![Argentina, IMF agree on loan repayment plan](https://www.berlinertageblatt.de/media/shared/articles/8a/34/25/Argentina--IMF-agree-on-loan-repaym-664633.jpg)
-
Venezuela takes diplomatic jab at Brazil in spat over election
-
Multiple people shot along highway in US state of Kentucky
-
'Super proud' Sabalenka downs Pegula to win US Open thriller
-
In Papua New Guinea, Pope holds mass 'at the edge of the world'
-
Hewett stays positive for wheelchair tennis despite agonising defeat
-
Three things on US Open champion Aryna Sabalenka
-
Sabalenka downs Pegula to win US Open thriller
-
USA men land Paralympic basketball three-peat, Jiang takes 7th swim gold
-
USA slump to first home defeat against Canada in 67 years
-
Argentina hand Australia record 67-27 loss in Rugby Championship
-
England impress on Carsley bow, Germany, Dutch hit five
-
AFP photographer wins top prize for Gaza coverage
-
No Love for Packers for three weeks after ligament sprain: reports
-
Pedro Almodovar: chronicler of modern Spain crowned in Venice
-
Almodovar wins top Venice prize for end-of-life film
-
Trump sounds dark tone at rally, Harris 'ready' for debate
-
Wirtz and Musiala dazzle to kick-start new Germany era
-
Chinese teenager takes 7th gold of Paris Paralympics
-
England interim boss Carsley 'respects' divided opinions over anthem
-
Neuville moves to the front in the Acropolis Rally
-
Garfield, Pugh charm Toronto in new romance 'We Live in Time'
-
21 boys confirmed dead in Kenya school inferno
-
Over 100,000 protest in France against new prime minister
-
Golden 30 minutes takes China to swimming Paralympics swimming domination
-
Green leads Australia to T20 series sweep of Scotland
-
Nigeria, Cameroon win afer chaotic AFCON build-ups
-
Nicole Kidman: A-lister, cinematic chameleon, wins in Venice
-
'I had to prove myself', says Kolisi after win against All Blacks
-
Almodovar wins top prize at Venice film festival
-
Grealish savours England redemption after 'worst summer'
-
Carsley makes flying start as England interim boss in win over Ireland
-
Springboks close on Rugby Championship with storming win over All Blacks
-
Sri Lanka's De Silva and Kamindu Mendis defy England in third Test
-
Farrell's Racing lose on opening day of Top 14
-
Ireland and UK to 'reset' relations as Starmer visits Dublin
-
Dunbar takes second Vuelta stage as Roglic closes in on victory
-
Fritz eyes US Open glory to end 21 years of American hurt
-
Thousands protest in France against new prime minister
-
Death toll from Kenya school blaze rises to 21
-
Brazil's right rallies for 'freedom' after X suspended
-
Trump to hold rally in swing state, Harris preps for debate
-
Stone at the double as Sri Lanka collapse against England in third Test
-
French tennis player takes legal action over online abuse
-
Italy backs Kyiv's 'legitimate defence' as Zelensky presses allies
-
The Body Shop rescued from administration after deal
-
Martin roars to victory in San Marino sprint, extends MotoGP lead
-
Smoke and screams: The horror of Kenya's school dorm inferno
-
MotoGP leader Martin roars to victory in San Marino sprint
-
Ireland and UK to 'reset' relations as Starmer begins Dublin visit
-
Ma Lin turns brutal encounter with bear into glorious Paralympic career
![Argentina, IMF agree on loan repayment plan](https://www.berlinertageblatt.de/media/shared/articles/8a/34/25/Argentina--IMF-agree-on-loan-repaym-664633.jpg)
Argentina, IMF agree on loan repayment plan
Argentina and the IMF said Thursday they had reached agreement on a "pragmatic and realistic" plan for the country to repay a ruinous $44-billion debt.
The economy ministry in Buenos Aires announced that a deal was struck on refinancing its debt in a way that "seeks to continue generating conditions of stability."
The deal -- the details of which were ironed out between Argentine officials and IMF staff after an in-principle agreement in January -- will be sent to Congress later Thursday for approval.
It must also be ratified by the international lender's executive board.
In 2018, under the government of conservative President Mauricio Macri, the IMF granted its biggest-ever loan of $57 billion to Argentina.
The country received $44 billion of that amount. Macri's successor Alberto Fernandez refused to accept the rest, seeking also to renegotiate repayment terms.
Payments of $19 billion and $20 billion were due this year -- a timeline the government considered impossible.
Argentina is just emerging from three years of economic recession and battling rising inflation and a high poverty rate.
Under the new deal, the ministry said, repayments will be made from 2026 to 2034 after a grace period.
- Budget support -
In this way, Argentina hopes to reduce its fiscal deficit from 3.0 percent of GDP today to 0.9 percent by 2024.
In a statement in Washington, the IMF said Argentina would benefit from a 30-month Extended Fund Facility (EFF) -- a relief measure granted to countries experiencing repayment difficulties.
It spoke of a "pragmatic and realistic program, with credible economic policies to strengthen macroeconomic stability and to address Argentina's deep-rooted challenges to sustainable growth."
The deal would aim "to provide Argentina with balance of payments and budget support to address the country’s most pressing economic challenges," the lender said.
It would also seek to "durably address persistently high inflation" while "credibly improving public finances."
The deal would "support reserve accumulation and net exports" to facilitate Argentina's re-entry into international capital markets, said the IMF.
For its part, the government said the deal should help create conditions of stability to address structural economic challenges and foster sustainable growth.
In December, the IMF conceded the enormous loan granted to Argentina had failed to achieve its objectives of restoring confidence in the country's fiscal viability and fostering economic growth.
In January, Argentina's economy minister said the lender risked losing credibility if it "pushes" the country "into a destabilizing situation" with an "unsustainable" repayment calendar.
T.Bondarenko--BTB