Argentina receives biggest loan package of $57bn from IMF

Nabanita Dutta

News Editor

To improve the country's finance International Monetary Fund has provided Argentina with their biggest loan package of $57 billion to stabilize Peso if it depreciates below 44 pesos per dollar. The loan agreement was announced on Wednesday where the officials declared to be IMF's biggest loan ever. Argentina initially secured a $50 billion deal and later IMF agreed to increase by $7.1 billion more.