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International Business Times
International Business Times
World

Argentina's Milei Wins Congress Green Light For New IMF Loan

International Monetary Fund Javier Milei Argentina Buenos Aires EFF
Milei's small libertarian party is in a minority in Congress but has formed ad hoc alliances to push through its cost-cutting agenda (Credit: AFP)

Argentina's Congress on Wednesday gave President Javier Milei the green light to negotiate a new IMF loan agreement, on top of the $44 billion Buenos Aires already owes the lender.

Milei asked lawmakers on March 11 to approve a new 10-year loan to boost the central bank's foreign currency reserves and cover looming debt payments.

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