IMF approves $20 billion loan for Argentina, currency controls to be lifted – Firstpost
The South American nation’s central bank announced that it will undo a fixed currency peg from Monday, letting the peso freely fluctuate within a moving band between 1,000 and 1,400 pesos per dollar, versus 1,074 at the close on Fridayread moreArgentina dismantled key parts of its years-long currency controls and loosened its grip on the peso on Friday as it sealed a $20 billion, 48-month Extended Fund Facility deal with the International Monetary Fund (IMF).The IMF deal lays out an immediate disbursement $12 billion, and a first review is planned...