Argentina's Massa: No Reserves Will Be Used to Repay IMF

Argentina's Economy Minister Sergio Massa announced that the country will not use any of its reserves to repay a $2.7 billion debt to the International Monetary Fund (IMF) this week. Instead, the repayment will be made using a $1 billion bridge loan from the Development Bank of Latin America (CAF) and $1.7 billion from a swap deal with China. Argentina, facing a severe economic crisis, aims to avoid default with the IMF while maintaining foreign currency reserves and economic activity levels.