Argentina is getting an enormous lifeline. Last week, the International Monetary Fund agreed to loan the country $20bn. It is the 23rd deal between the IMF and the country, but this money comes with some serious strings attached. Here to explain what it means is the FT’s Ciara Nugent in Buenos Aires. Hey, Ciara.

It marked a major step forward in the libertarian’s program to normalize Argentina’s economy after decades of unbridled spending. The IMF’s executive board late Friday green-lit the $20 ...