BUENOS AIRES, Argentina (AP) — Argentina' economy minister says the South American country has reached a revised lending agreement with the International Monetary Fund increasing the amount of a loan package.
Economy Minister Nicolas Dujovne said Wednesday that Argentina has secured an additional $7.1 billion in funding, in addition to the $50 billion in financing included in a deal worked out with the IMF in June after Argentina was battered by a currency crisis and double-digit inflation.
IMF Director Christine Lagarde said the new $57.1 billion amount will help Argentina's government face its challenges.
President Mauricio Macri had been pushing for a new deal to restore investor confidence and ease concerns that Argentina will not be able to meet its debt obligations next year.
