Loan to Trump Ally Argentina Went Against IMF Board Concerns (1)

The IMF’s latest jumbo loan to Argentina — a serial defaulter now led by a close Donald Trump ally – raised red flags for many of the Fund’s top decision-makers. It got a green light anyway.

About half of the 25 executive board chairs at the International Monetary Fund had serious concerns about the $20 billion deal, according to people familiar with the matter, who asked not to be identified discussing private matters. The credit will go to a country that’s already by far the Fund’s biggest debtor — gobbling up more than one-third of its entire global lending — ...