EMERGING MARKETS-Argentina's informal peso jumps after IMF debt deal

    * Argentine black market peso jumps 2.5%
    * Russian rouble extends gains 
    * Colombian peso slips ahead of cenbank meeting 

    By Susan Mathew
    Jan 28 (Reuters) - Argentine assets were in focus after the
country reached an agreement with the International Monetary
Fund to revamp some $40 billion in debt it cannot pay back,
while Russian assets extended gains on signs of easing in
tensions over Ukraine.
    Ahead of a $700 million payment due on Friday, Argentina had
been locked in talks with the IMF over a new program to revamp
debt outstanding from a failed $57 billion loan deal from 2018.

    Argentina black market peso jumped 2.53%.  
    Uncertainty over an IMF deal has hit Argentina's sovereign
bonds, while anti-IMF rhetoric has risen in the country, with
some protesters on Thursday calling for the government to
suspend repayments.
    "Given the increasing pressure in asset prices, particularly
the parallel market FX, and Argentina's low level of net
reserves, (the government) may have asked the IMF to comment on
the improvements in the negotiation in exchange for making the
payments due today and next week," Citigroup strategists said in
a note.
    Citi said it would be watching to see if IMF also uses
"agreement" to describe the deal or if it chooses a softer tone.
    Russia's rouble extended Thursday's gains and is on
course to end a four-week losing streak after Russia sent its
strongest signal so far that it is willing to engage with U.S.
security proposals and reiterated that it does not want war over
    Other Latin American currencies also gained as the U.S.
dollar gave up some of Thursday's strong gains. Brazil's real
 firmed 0.7%, while Mexico's peso looked to break a
four-day losing streak.
    Colombia's peso slipped 0.4% ahead of a central bank
meeting where a 75 basis points hike to 3.75% is expected.

    Turkey's lira was last up 0.4% at 13.58 a dollar. The
currency has risen about 35% from record lows hit last month.
This followed measures to encourage lira holdings which halted
the currency's free fall caused by unconventional monetary
policy that created a growing a divergence between surging
inflation and the country's key policy rate. 
    Turkey's annual inflation rate is seen rising to around 47%
in January - the highest in 20 years, a Reuters poll showed.

    Turkey's central bank has scaled back its currency
interventions in January but still spent as much as $1 billion
last week to keep the lira steady, according to the calculations
of bankers and economists.
    Key Latin American stock indexes and currencies at 1418 GMT:
   Stock indexes            Latest    Daily %
 MSCI Emerging Markets       1191.62    -0.04
 MSCI LatAm                  2260.91     0.21
 Brazil Bovespa            112418.22    -0.17
 Mexico IPC                       --       --
 Chile IPSA                  4586.51     0.52
 Argentina MerVal                  -        -
 Colombia COLCAP             1520.63    -0.11
       Currencies           Latest    Daily %
 Brazil real                  5.3839     0.70
 Mexico peso                 20.7591    -0.05
 Chile peso                    807.7    -0.67
 Colombia peso               3974.38    -0.45
 Peru sol                     3.8323    -0.13
 Argentina peso             104.8300    -0.06
 (Reporting by Susan Mathew in Bengaluru. Editing by Jane