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Economy Minister Says Will Use CAF Loan, Yuan Swap To Repay IMF

ARGENTINA
  • Argentine Economy Minister Sergio Massa said Argentina will not use a "single dollar" from its foreign currency reserves to complete its $2.7 billion repayment to the IMF, Reuters reported on July 31.
  • Massa announced that the government would pay the International Monetary Fund $2.6 billion Monday using a new bridge loan and its China currency swap.
    • Massa confirmed Argentina received a $1 billion bridge loan from the development bank known as CAF.
    • Massa said China activated a second part of its currency swap line so that Argentina could complete payment to the IMF.

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