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IMF agrees to lend Argentina US$50 billion

The International Monetary Fund has agreed to lend Argentina up to US$50 billion as the country seeks to bolster its struggling economy.
 
The three-year agreement must still be approved by the IMF board.
 
Argentina, which has been plagued by economic problems for years, asked for assistance from the IMF on May 8 after its currency hit an all-time low.
 
The country has committed to tackling its double digit inflation and public spending as part of the deal.
 


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