Argentina and IMF reach preliminary $45 bln deal to resolve debt

Global Business

Argentina and IMF reach preliminary $45 bln deal to resolve debt

A breakthrough for Latin America’s third largest economy. The International Monetary Fund board ratified an agreement with Argentina to refinance the country’s $45 billion debt on Friday, bringing to an end long negotiation.

Argentina hopes it will help stabilize the economy, but many obstacles lie ahead. 

CGTN’s Joel Richards reports.