Argentina reaches agreement with IMF to refinance debt

BUENOS AIRES, Argentina (AP) — Argentina says it has reached an agreement with the International Monetary Fund to refinance more than $40 billion in debt. Since 2020, Argentina has been in an arduous negotiation with the IMF to refinance the debt contracted in 2018 during the government of conservative Mauricio Macri in the midst of a currency crisis. Argentina had spent three years trying to renegotiate repayment terms with the IMF and considered a deal vital to stabilizing an economy whose lengthy crisis has been hit as well by the pandemic.