Argentina Secures $1 Billion in Foreign Bank Loan

Argentina's central bank has secured a $1 billion repo loan from five international banks. This deal, with a maturity of over two years, aims to bolster the country's currency reserves.

Argentina's central bank announced on Friday that it has secured a $1 billion repurchase agreement (repo) loan with the involvement of five foreign banks, as revealed in a statement on its website.

The loan agreement, set with a maturity of two years and four months, is designed to enhance the bank's financial tools for managing the nation's currency reserves.

With this move, the monetary authority aims to strengthen Argentina's financial stability amid ongoing economic challenges.

(With inputs from agencies.)