The International Monetary Fund, Argentina's biggest creditor, agreed Monday to release the next tranche of loans due under a bailout program, endorsing government austerity measures so severe they even surpass the terms of its $43 billion loan. The IMF deal follows the completion of its review of Argentina's compliance record and confirms the next $792 million payment will become available to the government in June, reassuring markets and boosting confidence among bankers about Argentina’s prospects as it goes through its worst economic crisis in two decades. Argentina’s annual inflation rate reached 287% in March, among the highest in the world, deepening poverty and spurring strikes and protests.
Melinda French Gates has resigned from the charity she set up with her billionaire husband Bill three years after the couple filed for divorce.
Volkswagen is exploring the sale of as much as 1 billion euros ($1.08 billion) worth of stock in its heavy truckmaking arm Traton SE, Bloomberg News reported on Monday, citing people familiar with the matter. The German automaker is talking to potential advisers about the stake sale to institutional investors via an accelerated bookbuilding deal as soon as the next few weeks, the report added. The potential 1 billion euros share sale represents a near 6% stake in Traton, according to market cap data from LSEG.