Argentina reached a three-year deal with the International Monetary Fund (I.M.F) on Thursday 06/07/18 for a $50 billion credit line, an amount that was larger than expected, which the government promoted as a vote of confidence on its market-friendly reforms.

Argentina requested I.M.F. assistance on 05/08/18 after its currency weakened sharply.

I.M.F Managing Director, Christine Lagarde, said the fund supports Argentina’s plan to try to cut its budget deficit and bring down soaring inflation.