Argentina will receive $647.5 million from the Inter-American Development Bank (IDB) in an operation that re-directed funding previously approved for the country.
The “Program to Support Fiscal Sustainability and Growth,” approved by the IDB’s Board of Executive Directors, will help bolster the country’s public finances and balance of payments, bolstering its macroeconomic stability and growth.
The funds from the IDB loan will contribute to the government of Argentina’s reform efforts with the International Monetary Fund (IMF).
The loan, under the Special Development Lending (SDL) modality, is part of IDB’s overall support for Argentina, which include technical assistance and loans in areas such as fiscal efficiency, energy, and the social sector -- ensuring protection for its most vulnerable populations.
The IDB loan has a seven-year repayment term, a three-year grace period, and an interest rate based on the Secured Overnight Financing Rate (SOFR).
Sobre el BID
El Banco Interamericano de Desarrollo (BID), miembro del Grupo BID, tiene como objetivo mejorar vidas en América Latina y el Caribe. Fundado en 1959, el BID trabaja con el sector público de la región para diseñar y facilitar soluciones innovadoras de impacto para el desarrollo sostenible e inclusivo. Apalancando el financiamiento, la experiencia técnica y el conocimiento, promueve el crecimiento y el bienestar en 26 países. Visita nuestro sitio web https://www.iadb.org/es
Planes,Maria Soledad
Molina Medina,Vanessa Carolina
Argentina and the IDB
The Country Office of Argentina focuses on assisting the most vulnerable segments of the population affected by the economic crisis and COVID-19 pandemic, while also helping to stabilize the macroeconomic environment and fostering an agenda of economic recovery and sustained poverty reduction.
Program to Support Fiscal Sustainability and Growth
The general development objective of the program is to support the recovery of Argentina's macroeconomic sustainability. The specific development objectives are: (i) strengthen public finances; and (ii) strengthen the balance of payments.