BUENOS AIRES, June 7 (Xinhua) -- Argentina has secured a 50-billion-U.S.dollar loan from the International Monetary Fund (IMF), Finance Minister Nicolas Dujovne said on Thursday.
"We have agreed to a standby loan ... of 50 billion U.S. dollars," Dujovne said at a press conference, adding that "it shows the support we have among the international community, and it is very good news."
The financing will be accessible as of June 20, when the agreement between the two sides becomes official.
The first "immediate" disbursement will be 15 billion U.S. dollars, or 30 percent of the total amount, he said.
The government has been negotiating with the international lending agency to alleviate the currency devaluation in the country for the past few weeks.
However, the negotiation has sparked protests among Argentines who fear the agreement will lead to harsh austerity measures.
