Argentina parliament approves IMF deal for $45 billion debt

The Argentine Senate has voted to approve an agreement with the International Monetary Fund restructuring $45 billion in debt

Argentina's Senate on Thursday gave final approval to an agreement with the International Monetary Fund that restructures a $45 billion debt, clearing the country's short-term financial horizon but leaving a serious inflationary challenge.

Under the agreement, which must also be ratified by the IMF board of directors before it comes into force, the fund will monitor Argentina's progress regularly.