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The World : Argentina Loan Plan Told

November 08, 1987

Argentina and the International Monetary Fund have reached a tentative agreement on a new economic program that could shortly allow about $1 billion in loans for the ailing debtor country, monetary sources said in Washington. A U.S. Treasury spokesman said that as a result of the agreement, a $500-million U.S. bridge loan to Argentina will go forward in the next couple of days. The monetary sources said the IMF had approved an Argentine program to combat its economic problems, including high inflation. The accord must be approved by the IMF's executive board, an action that is expected in about six weeks, the sources said.

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