News In Brief

Four Latin neighbors to lend Argentina $100 million

Four Latin American countries have agreed to lend Argentina $100 million to help it repay overdue interest on its $45 billion foreign debt, Leopoldo Portnoy , Central Bank vice-president, said Wednesday.

Brazil, Mexico, Venezuela, and Colombia agreed last Friday to extend the funds until the International Monetary Fund starts disbursing a $1.42 billion standby credit in mid-February, he said.

The Latin American loan will help Argentina raise payments on overdue interest to $850 million from the $750 million pledged in a rescheduling deal with the steering committee of its creditor banks on Dec. 2.

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