Argentina pays US$1.9 billion installment to IMF amid political crisis

Argentina on Wednesday paid the first installment of its debt incurred as part of the rescue package agreed with the International Monetary Fund (IMF) in 2018.

RIO DE JANEIRO, BRAZIL - For the first payment, Alberto Fernández's government officially redeemed the US$4.33 billion in Special Drawing Rights (SDRs) issued by the IMF to inject liquidity into the global economy during the Covid-19 pandemic.

Some of this money was used to pay off the debt installment, currently being renegotiated. In 2018, still under the government of former President Mauricio Macri, Argentina closed a US$57 billion bailout program with the IMF. Of that amount, Argentina received US$45 billion.

Fernández's goal is to complete the debt renegotiation with the IMF after . . .

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