Congress Ratifies $1.9B IMF Financing Deal

The Chamber of Deputies approved the Extended Fund Facility financing law on Sep 18 with support well above two-thirds, and the Senate sanctioned it the next day, Sep 19, via a waived-procedure vote (Law 723), completing congressional ratification of the 36-month, SDR 1.369 billion (~$1.9B) IMF program first agreed at staff level on Jul 29. Terms: up to 10-year repayment per disbursement, amortization starting after a 4.5-year grace period, and a variable interest rate of 3.47% tied to SDR rates. The deal still requires final approval from the IMF's Executive Board, expected around Oct 2, with a first disbursement of roughly $250 million anticipated shortly after.