Three international financial institutions announced $42 billion in fresh support for financially troubled Argentina on Friday, as its president said his country's economy will grow "like never before."

The IMF approved a new four-year $20 billion bailout for the South American nation as the World Bank said it would pump $12 billion into the economy and the Inter-American Development Bank (IDB) announced plans for a $10 billion deal.

Some of the cash is expected to flow as soon as next week to help skint Argentina defend its wobbling peso currency, in a political boon for libertarian President Javier Milei's aggressive efforts to revive the nation's fortunes.

"Argentina will be the country with the strongest economic growth for the coming 30 years," the self-styled "anarcho-capitalist" leader said in a TV address, adding that the economy will grow "like never before."

Finance Minister Luis Caputo had earlier said that "within 60 days" Buenos Aires expects to receive $19 billion from the IMF, World Bank and other sources including the IDB.

That figure will include an "immediate" first tranche of $12 billion from the........

© International Business Times