Argentina hopes reach deal to increase size of IMF standby agreement

Argentine President Mauricio Macri's government hopes to reach a deal with the International Monetary Fund (IMF) this week to increase the size of a $50 billion standby agreement it signed in June, a government source said on Monday.

The source, who asked not to be identified because the talks were ongoing, said that a report on the website of La Nacion newspaper that Argentina had secured an additional $3 to $5 billion in funding was "close to reality".