IMF says Argentina to delay payment within rules, remains current
A man walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, U.S., May 10, 2018. REUTERS/Yuri Gripas Purchase Licensing Rights
March 21 (Reuters) - Argentina has informed the International Monetary Fund (IMF) that it will merge two payments due this week into a single payment of about $2.7 billion on March 31, the IMF said on Tuesday.
The fund said via a spokesperson that Argentina's decision does not require board approval and is consistent with IMF rules, so Argentina remains current in payments.
The Argentine government confirmed the combined payment will come next Friday.
The IMF and Argentina last week reached a staff-level agreement on the fourth review of their $44 billion loan program. Once the fund's board approves the agreement, it will allow the release of about $5.3 billion to the Argentine government.
The government will use the disbursement to pay the fund back. Argentina is due four payments in April totaling $2.65 billion.
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Reporting by Jorge Otaola in Buenos Aires and Rodrigo Campos in New York; Editing by Chris Reese and Josie Kao
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