Argentine Senators approve IMF refinancing deal

Argentina's Senate gave final legislative approval Thursday for President Alberto Fernández's administration to refinance the government's 45 billion US dollar debt with the International Monetary Fund and avoid a default.

The lawmakers voted 56 to 13, with three abstentions, to approve the deal signed with the IMF in early March. It was approved by the Chamber of Deputies last week, but it must still be approved by the IMF's board.

While the approval helps the South American country avoid another default and economic turmoil, it may have created an insurmountable fracture between Fernández and his powerful vice president, former President Cristina Fernández, who has questioned the terms negotiated with the IMF.

The debate about refinancing has generated protests by Argentines angry over past IMF deals that they saw as disastrous for the country's economic wellbeing. Demonstrators hurled rocks and set fires in front of the Congress building during protests last week.