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World Bank issues Argentina guarantees for US$2-billion commercial loan
The World Bank on Tuesday announced it was issuing guarantees to allow Argentina access to up to US$2 billion in commercial loans, a move designed to aid the embattled economy's access to international capital markets. Debt-strapped Argentina has private debt payments of more than US$4 billion coming due in July. The new loan will have a six-year maturity, with a three-year grace period, the World Bank said, but it did not offer further details on its conditions or who was providing it. [...]