Argentina will get additional financing from International Monetary Fund within record support program aimed to protect its currency and lead the economy out of recession, Bloomberg reports.

Credit line for Argentina will be increased to about $57 billion during three years from $50 billion stated in June. Larger part of this sum will be paid up front.

In return, the President of the country along with the leader of central bank will have to tighten monetary policy. Argentina promised to focus on budget savings and freeze supply of money into economy to restrict inflation. It also will have to stop spending foreign reserve to support peso.

By the time news were announced trading of peso was finished. It fell another 1,1% to 38,51 per dollar. Currency already lost more than a half of its value this year, while yield of dollar bonds rose above 9%.

Leaders of IMF believe that the implemented program will help to recover market and confidence in Argentina’s economy.