US$3 billion loan for Argentina

The Inter-American Development Bank (IDB) will release a US$3 billion loan for Argentina by the end of this year.

Economy Minister Sergio Massa announced this agreement after meeting with the president of the “IDB”, Mauricio Claver-Carone, in Washington on Tuesday, September 6.

Massa pointed out that US$1.2 billion is intended to strengthen the Central Bank’s reserves.

At a press conference, Massa stressed that “the freely available operations are not only confirmed but will be larger than expected and secondly the confirmation of the portfolios by the end of the year and the start of portfolio discussions for 2023.”

The loan program includes US$1.2 billion to strengthen reserves, of which US$500 million will be disbursed on September 30 and the remainder on December 30 of this year.

The package also includes loan programs amounting to US$1.9 billion, which are expected to be signed and approved before the end of the year. The IDB also plans to provide US$1.8 billion in new loans by 2023.

With information from Latina Press