Argentina Secures $42 Billion in Financial Aid from IMF, World Bank, and IDB

Argentina has received financial support totaling $42 billion from the International Monetary Fund (IMF), the World Bank (WB), and the Inter-American Development Bank (IDB). The World Bank described this support as a significant vote of confidence in the government. The IMF's loan amounts to $20 billion. The board has approved the immediate disbursement of an initial tranche of $12 billion, with a second tranche of $2 billion expected in June. The World Bank announced $12 billion in aid to support reforms aimed at attracting private sector investment and strengthening job creation measures. The IDB is expected to grant up to $10 billion over three years to the Argentine government, pending board approval.