IMF board grants USD56 billion credit package to Argentina

Argentina's president Mauricio Macri speaks during a meeting. IMF has granted the country with USD56 billion credit to salvage its economy. [Photo: Courtesy]

The International Monetary Fund executive board on Friday approved a USD56 billion loan package for Argentina to help stabilize the crisis-battered country's economy.

The IMF said the approval released USD5.7 billion to the government immediately.