BUENOS AIRES (Reuters) – Argentine Economy Minister Luis Caputo said on Thursday that the country was negotiating a $20 billion deal with the International Monetary Fund (IMF), formally putting a figure on the long-mooted program for the first time.
Caputo, speaking from a conference in capital Buenos Aires, said he had asked IMF Managing Director Kristalina Georgieva the day before for her permission to announce the number due to market turbulence in recent weeks.
“The amount we agreed upon with (IMF) staff – which ultimately the board will decide if it’s approved or not – is $20 billion,” Caputo said.
He added that he expects the IMF board to meet in coming weeks to vote on the loan deal.
(Reporting by Buenos Aires bureau)
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