Argentina Seeking US$5 Billion From Multilateral Banks For 2021

Shunned in global financial markets, Argentina is seeking about US$5 billion for next year from multilateral organisations other than the International Monetary Fund as it negotiates a larger refinancing programme with the Washington-based lender, according to three people familiar with the plans, the Buenos Aires Times reported. Alberto Fernández’s administration is looking to institutions including the Inter-American Development Bank and the World Bank, said the people, who asked not to be named because discussions are private. Plans are in the early stages, and the borrowing needed is an approximation that could wind up being more or less depending on variables like government revenue and exports, the people said. Read more