The International Monetary Fund‘s executive board will meet on March 25 to discuss Argentina‘s request for a debt deal, an IMF spokesman said on Saturday.
Argentina‘s Senate voted on Thursday to approve a $45 billion debt deal with the IMF, converting the agreement into law and ensuring that the economically battered country can avoid another messy default.
The government struck a staff-level deal with the IMF in early March to replace a failed $57 billion program from 2018 that had been unable to keep the grain-producing country from slipping into economic crisis and a private sector default.
The deal still needs to be signed off by the IMF’s board. The IMF spokesman, Gerry Rice, said in a statement that “the legislative approval is an important signal that Argentina is committed to policies that will encourage more sustainable and inclusive growth.”