UPDATE 1-IMF says talks with Argentina for financing plan are 'well advanced'
By: Reuters Staff
BUENOS AIRES, June 4 (Reuters) - Talks between Argentina and the International Monetary Fund (IMF) for a financing plan are “well advanced,” the Fund’s Western Hemisphere director Alejandro Werner said in a statement on Monday.
Argentina’s government requested IMF assistance on May 8 after a run on the peso currency. The South American country asked for financing in the form of an exceptional access standby arrangement, which could be worth at least $19.7 billion over the life of the program or $6.75 billion per year.
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