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Argentina Parliament approves IMF deal for USD45B debt

BUENOS AIRES (AFP) – Argentina’s Senate gave final approval to an agreement with the International Monetary Fund (IMF) that restructures a USD45 billion debt, clearing the country’s short-term financial horizon but leaving a serious inflationary challenge.

The late-night vote greenlights the new credit programme ironed out between Argentine officials and IMF staff as they sought to finalise the debt, the legacy of a record loan contracted in 2018 under former president Mauricio Macri.

Outside the Senate, several hundred people demonstrated, called by unions and leftist movements to oppose the restructuring.