Argentina secures $42bn from IMF, others as it lifts currency controls | News

Three major financial institutions are investing in Argentina’s economic recovery as it tries to deregulate.

Argentina has clinched $42bn in medium-term funding from the International Monetary Fund (IMF) and two other financial institutions as it announced it is abandoning most of its tight currency controls.

The IMF’s executive board late on Friday approved a $20bn bailout package that will be doled out over the next four years, with an immediate disbursement of $12bn and another $2bn…