Argentina Agrees on Loan with Qatar for IMF Payment

The Argentine government, on Friday, reached an agreement with Qatar for a loan worth $775 million to be used for a payment due to the International Monetary Fund (IMF). A presidential decree issued by Argentina stated that the Qatari loan "will finance a payment due by Argentina to the International Monetary Fund (including costs and additional expenses) on August 4, 2023." Argentina is facing a severe economic crisis with rising inflation rates and declining central bank reserves, and it also needs to repay funds to the IMF. Economy Minister Sergio Massa stated on Monday that Argentina would not use "a single dollar from its reserves" to settle the amount due to the IMF.