Argentina uses $775m Qatar loan to repay IMF ...Middle East

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Argentina uses $775m Qatar loan to repay IMF
BUENOS AIRES: The Argentine government said Friday it will use a loan from Qatar amounting to $775 million to make a payment to the International Monetary Fund as it awaits approval of a disbursement from the IMF for $7.5 billion.The credit operation would allow Qatar to lend Argentina Special Drawing Rights (SDRs, or money that countries reserve in the IMF) for the equivalent of $775 million, said a source at the economy ministry.“It is the first time in history that Qatar has carried out a credit operation with Argentina,“ said the source, on condition of anonymity, adding that this will allow the South American country to pay the maturity “without using reserves.”The credit was negotiated

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