(Reuters) – The executive board of the International Monetary Fund approved on Wednesday the fifth and sixth reviews of its program with Argentina, allowing for the disbursement of $7.5 billion the cash-strapped economy desperately needs, the Argentine government said.
Argentina’s net foreign exchange reserves were in the red ahead of the disbursement and the South American country agreed a $775 million loan with Qatar plus a $1 billion bridge loan from regional development bank CAF and $1.7 billion from a swap with China to make a payment to the IMF earlier this month.
The IMF did not immediately respond to a request for comment.
(Reporting by Reuters newsrooms; Editing by Chris Reese)
