June 21, 2018 / 1:28 PM / a month ago

Argentina outlines plan to auction $7.5 bln from IMF funds

BUENOS AIRES, June 21 (Reuters) - Argentina’s Treasury Ministry said on Thursday it instructed the central bank to sell $7.5 billion of the funds the country received from the International Monetary Fund (IMF) through 75 daily auctions of $100 million, beginning today.

The country received an initial disbursement of $15 billion on Wednesday of the total $50 billion stand-by credit. Authorities had previously said they planned to convert half of the initial disbursement into pesos in order to finance the budget. (Reporting by Luc Cohen Editing by Chizu Nomiyama)

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