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Argentina to seek Extended Fund Facility from IMF -economy minister

·1 min read

BUENOS AIRES, Nov 9 (Reuters) - Argentina will seek an Extended Fund Facility from the International Monetary Fund (IMF), Economy Minister Martin Guzman said on Monday.

The EFF, which is a longer-term program that typically requires more economic reforms than a standby agreement, would replace Argentina's $57 billion financing program agreed in 2018.

Argentina would expect to repay the IMF between four and a half years and 10 years after the start of the agreement, Guzman said.

An IMF mission is due to begin negotiations with the government in Buenos Aires from Tuesday.

(Reporting by Eliana Raszewski; writing by Cassandra Garrison; Editing by Rosalba O'Brien)