BUENOS AIRES, June 16 (Reuters) – The World Bank Group on Tuesday approved a $2 billion commercial loan package for Argentina, which will help the country reduce its financing costs and strengthen public debt management, the institution said in a statement.
Argentine newspaper Ambito had reported earlier on Tuesday, citing sources, that the World Bank was readying the loan package. It added that the Inter-American Development Bank was also considering a $550 million disbursement to the nation on Wednesday, with another $500 million on the table from the Development Bank of Latin America and the Caribbean (CAF) in late July.
DEAL DETAILS
• The World Bank’s package combines a policy-based guarantee from the…