IMF eases reserve targets for Argentina By Reuters

© Reuters.

NEW YORK (Reuters) – The executive board of the International Monetary Fund (IMF) said on Saturday that, with the approval of the fourth review of its lending program for Argentina, a change in the net reserve target by the country’s central bank has been confirmed. .

Argentina has been battling a severe drought that has hurt agricultural exports.

In an expanded statement after releasing $5.4 billion to Argentina on Friday, the IMF detailed the disbursement to Argentina’s coffers but did not provide a date for the new quarterly reserve targets.

(Reporting by Rodrigo Campos)