Argentina reaches prospective deal to refinance $45B debt

By ALMUDENA CALATRAVA
Associated Press

BUENOS AIRES (AP) — Argentina’s government has announced a deal with the International Monetary Fund to refinance some $45 billion in debt. Thursday’s development marks the potential end of two years of negotiations and an attempt to remove economic uncertainty that has hung over Argentina for nearly as long. Revised terms must be approved first by the country’s Congress and then the IMF’s executive board to take effect. The government says it will submit legislation Thursday, though it remains unclear whether it will pass. If approved, the deal will replace the lending program that the IMF extended in 2018 , which was the biggest program the international lending body had ever granted to a single country.