The International Monetary Fund (IMF) has agreed to lend Argentina up to $10.8 billion for the rest of the year as part of a refinancing agreement.

The first payment of $7.5 billion will be made in August, after executive board approval.

The money won’t be accessible before the Aug.

13 primary election or to return the IMF $2.6 billion from a prior loan.

Argentina will pay using its currency exchange line with China and other finance.