May 21 (Reuters) – The International Monetary Fund on Thursday completed its second review of Argentina’s $20 billion loan program, unlocking a $1 billion disbursement as the lender praised the country’s progress on sweeping economic reforms.
The Fund noted that while the South American nation missed a year-end target for net international reserves, “strong progress” in passing fiscal, trade, and labor legislation have helped stabilize the economy and deliver its first primary fiscal surplus in years.
The South American nation reached an agreement with the IMF in April to unlock the $1 billion disbursement.
(Reporting by Rishabh Jaiswal in Bengaluru and Natalia Siniawski in Mexico City; Editing by Chris Reese and Sarah Morland)
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