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Investing.com -- The International Monetary Fund (IMF) plans to discuss a new loan for Argentina in an informal meeting scheduled for next week in Washington, according to Bloomberg, citing sources familiar with the situation. The meeting is a significant move towards a staff-level agreement for a new Argentina program and is likely to take place on Tuesday.
The IMF is expected to discuss a four-year extended fund facility of approximately 15 billion special drawing rights, which is roughly equivalent to $20 billion. However, sources have indicated that the final loan amount may be subject to change following discussions with board members.
During such informal meetings, IMF staff members who are working on a program typically update the lender’s board of directors about the progress of negotiations with the country seeking financial aid. The usual next step after such a meeting is the announcement that the IMF staff and the country have reached an agreement, which will then be formally submitted to the IMF board for approval.
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