Argentina will delay its July debt payments to the International Monetary Fund (IMF) until the end of the month, according to a source.

Argentina to Push Loan Repayments to IMF

Buenos Aires (Reuters) –

Argentina will push loan repayments due to the International Monetary Fund (IMF) in July to the end of the month, a person familiar with the matter at the Ministry of Economy said on Wednesday.

The payments total $2.6 billion for the month and include $1.3 billion due on Friday.

The cash-strapped country bundled its June payments in a similar way – as it is permitted to do – and paid partly in Chinese yuan as it suffered a shortage of dollar reserves.

Argentina struck a $44 billion loan deal with the IMF last year to replace a failed 2018 program. It is negotiating to accelerate payouts from the program and ease economic targets.

The IMF did not respond to a request for comment outside of business hours.

(Reporting by Eliana Raszewski; Writing by Carolina Pulice; Editing by Christopher Cushing)

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