BUENOS AIRES, May 18 (Reuters) - International Monetary Fund Managing Director Christine Lagarde has conveyed to the IMF board the Argentine authorities’ intention to request an exceptional access standby arrangement, she said in a statement on Friday.
An exceptional access program is an IMF financing program worth anything above 145 percent of a country’s IMF quota per year or 435 percent over the life of the program.
An IMF quota is the value of a country’s share in the IMF financing system, tied to its impact in the world economy. Argentina’s government requested IMF financing earlier this month after a run on the peso currency. (Reporting by Caroline Stauffer, Rodrigo Campos and Maximiliano Rizzi; Editing by Bernadette Baum)