May 10, 2018 / 2:06 AM / 13 days ago

IMF deal would secure Argentina funds through Macri's term: finance minister

BUENOS AIRES (Reuters) - The credit deal Argentina is negotiating with the International Monetary Fund (IMF) would guarantee financing through the end of President Mauricio Macri’s first term, which ends in late 2019, Finance Minister Luis Caputo said on Wednesday.

Argentina's Finance Minister Luis Caputo speaks at the discussion panel "Market Forces at Work" on the side of the IMF/World Bank spring meeting in Washington, U.S., April 19, 2018. REUTERS/Yuri Gripas

The so-called ‘stand-by arrangement’ would allow Argentina to obtain financing at an interest rate of around 4 percent, and would allow the South American country to receive more money than other options available from the IMF, Caputo said in an interview on local television channel TN.

Reporting by Luc Cohen and Maximiliano Rizzi

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