Argentina ETFs Gain Momentum After Loan Approval RELATED ARTICLES Argentina ETFs Strengthen on âImportant Progressâ in IMF Loan Talks Ar...
RELATED ARTICLES
Argentina ETFs Strengthen on âImportant Progressâ in IMF Loan Talks
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Argentina ETFs have picked up speed, breaking above their short-term trend lines, after gaining approval for three loans totaling more than $1.8 billion.
On Friday, the Global X MSCI Argentina ETF (NYSEArca: ARGT) was up 1.1% and the iShares MSCI Argentina and Global Exposure ETF (BATS : AGT) was 3.2% higher. Both ARGT and AGT are now trading back above their short-term trend line at the 50-day simple moving average.
Argentinaâs markets were strengthening after the World Bank and the Inter-American Development said they were providing the emerging economy with three loans totaling more than $1.8 billion to support the country through its financial difficulties and citizens whom are most at risk, the Associated Press reported.
The World Bank said Thursday that a first loan of $500 million will go toward the governmentâs budget needs and a second loan of $450 million will be used to protect 250,000 at risk children by 2020.
âThis support to Argentina, especially focused on the most vulnerable sectors, comes at a crucial moment for our country and is a clear sign of confidence,â Nicolas Dujovne, Argentinaâs minister of finance, told the Associated Press.
Related: Tom Lydon on Yahoo Finance Live: ETFs for Todayâs Volatile Markets
Showing Page 1 of 2Source: Google News Argentina | Netizen 24 Argentina
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