Argentina to get $39.7bn


Buenos Aires - Argentina has clinched nearly $40 billion in IMF-led aid over the next three years, the Economy Minister, Mr Jose Luis Machinea, said yesterday, quashing fears the country could default next year.

The $39.7 billion aid package - bigger than the $20-30 billion the markets had been expecting - includes a $3.7 billion contribution from the International Monetary Fund and $2.5 billion each from the World Bank and Inter-American Development Bank.