Argentina Markets Rally

Stock and bond prices climbed after the government repaid $9.5 billion in loans to the International Monetary Fund, severing links with the organization that the government blames for the country’s financial collapse in 2001-2002. The Buenos Aires Stock Market’s Merval index rose 2.97%. Restructured peso bonds with GDP warrants rose 2.46%. The Central bank intervened in the foreign exchange markets to keep the peso stable, buying $51 million for its reserves, which rose to $18.58 billion after the IMF payment.