A Plan, at Long Last a Plan

The IMF and Argentina reach agreement on new loans

How do you spell relief? Last week in Argentina they were spelling it IMF. After seven months of dickering, officials of the Argentine government and the International Monetary Fund reached an arrangement whereby Argentina would get IMF emergency loans to help put its economy on a sounder footing. The IMF aid will enable Argentina to get more loans from private banks so that it can meet interest payments on its $45.5 billion debt.

The accord ended a precarious situation that had bankers and politicians...

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