IMF delays Argentine loan

The International Monetary Fund has delayed approval of a $728 million loan payment to Argentina, forcing the country to draw on central bank reserves to pay back multinational lenders.

Argentina, which is in default on almost $100 billion of debt, tapped about $883 million of reserves to pay the IMF for principal and interest since the fund last approved a disbursement in March. The World Bank is waiting for the IMF to complete its second quarter review of Argentina's economic performance

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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