Argentine government ratified that it will use the loans for $6 billion approved by the Inter-American Development Bank (IDB), the World Bank and CAF, for infrastructure works and development programs. President Alberto Fernández will accept these loans approved during the government of Mauricio Macri “for their low cost of financing comparing to what the country could get in the markets,” official sources explained.
The World Bank expects Argentina to emerge from recession in 2020. Its latest Global Economic Prospects report forecasts a pick up in growth to 4.3% for emerging market economies this year. However it trimmed 0.2% its global growth forecasts slightly for 2019 and 2020 due to a slower-than-expected recovery in trade and investment despite cooler trade tensions between the United States and China.