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LatinNews Regional Monitor: Brazil & Southern Cone - 08 July 2019

In brief: Argentina

* The Acting Managing Director of International Monetary Fund (IMF) David Lipton has announced that IMF staff and Argentine authorities have reached an agreement on the fourth review of the economic program supported by the bilateral Stand-By Arrangement (SBA). Subject to the approval by the IMF's Executive Board, Argentina will have access to another US$5.4bn of the US$57bn SBA credit line. In a press release Lipton commended “the Argentine authorities on their continued efforts and steadfast implementation of their economic policy programme”. He noted that “the authorities completed all their fiscal, monetary and the social expenditure targets under the IMF-backed programme in the context of this review”.