IMF approves additional $4.7 billion loan to Argentina. IMF passed a review of Argentina's debt refinancing plan on the same day.
The plan was approved by the IMF in March 2023 and provides approximately US$44 billion in special drawing rights. The US$4. 7 billion amount will be used to repay Argentina's mature debt. The IMF had just lowered its forecast for Argentina's economic growth, saying that due to the impact of economic reforms, the country's GDP in 2024 may decrease by 2.8%.