the World Bank will lend $ 500 million to the country

In a new take on external debt, World Bank Board Approves New $ 500 Million Financing. This sum will come to supplement the same amount granted in 2018, in the middle of a monetary crisis.

In a statement, the agency said the loan would complete the $ 1,000 million budget support, the first disbursement was made last November. The disbursement will consist of "supporting Argentina in its economic recovery process to promote inclusive growth led by the private sector," the document says.

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ANSES justified the use of funds because of the crisis

"In order to protect the most vulnerable households, it seeks to mitigate the inflationary effects by maintaining the power to purchase social programs such as the Universal Children's Fund (AUH) and continuing to support efforts to provide health services equitably in the provinces, "said Jesko Hentschel, director of the World Bank for Argentina, Paraguay and Uruguay.

Unlike agreements signed with the IMF, this type of loan is much more flexible in terms of remuneration. Programmatic financing for development, US $ 500 million, is variable in margin, repayable in 32 years and has a grace period of seven years. However, the government's request is part of the electoral strategy of getting as many dollars as possible to keep the exchange rate stable at least until November.