Argentina reaches IMF staff deal, opening door to $1 billion in fresh funds

Argentina reached a staff-level agreement with the International Monetary Fund on the second review of its $20 billion program, the IMF said on Wednesday, unlocking a $1 billion disbursement, subject to approval by its Executive Board.
“Reform momentum has significantly strengthened in recent months,” the IMF said in a statement, citing greater political support in South America’s second-largest economy for key reforms, as well as improvements to monetary and FX policy that have helped kickstart the accumulation of critical foreign reserves.