Argentine officials signed a new loan agreement.

The agreement covers new loans of $4.2 billion and the restructuring of $13.9 billion in debts owed to foreign banks. The agreement for restructuring much of the country's foreign debt by stretching out payments of about $10 billion in the public sector debt was reached last fall. However, signing was postponed because the International Monetary Fund suspended its lending program in Argentina. Since then, the government has imposed tough anti-inflation measures and won back IMF support.

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