Hard cuts in Argentina - billions in credit from the IMF

With $ 5.7 billion in emergency aid, the International Monetary Fund (IMF) supports Argentina, shaken by a financial and currency crisis. This was announced by the Executive Board on Friday. The money is intended to stabilize the country's economy. In total, the Monetary Fund is providing Argentina with a loan of 56 billion US dollars, equivalent to the equivalent of 49.1 billion euros. Already in June, temporary aid of around $ 50 billion had been granted, of which 15 billion had already been disbursed. But Buenos Aires can not handle that.