EMERGING MARKETS-Argentina's informal peso surges after IMF debt deal

* Argentine black market peso jumps 6% * Russian rouble extends gains * Colombian peso edges higher after c.bank raises rates (Adds details, updates prices throughout) By Susan Mathew Jan 28 (Reuters) - Argentine assets jumped after the country reached an agreement with the International Monetary Fund to revamp some $40 billion in debt it cannot pay back, while Russian assets extended gains on signs of easing in tensions over Ukraine. Ahead of a $700 million payment due on Friday, Argentina had been locked in talks with the IMF over a new program to restructure debt outstanding from a failed $57 billion loan deal from 2018. Argentina black market peso surged 6.2%, while the Merval index added nearly 3%. Uncertainty over an IMF deal has hit Argentina's sovereign bonds, while anti-IMF rhetoric has risen in the country, with some protesters on Thursday calling for the government to suspend repayments. "Given the increasing pressure in asset prices, particularly the parallel market FX, and Argentina's low level of net reserves, (the government) may have asked the IMF to comment on the improvements in the negotiation in exchange for making the payments due today and next week," Citigroup strategists said in a note. Russia's rouble extended Thursday's gains and is on course to end a four-week losing streak after Russia sent its strongest signal yet that it is willing to engage with U.S. security proposals and reiterated that it does not want war over Ukraine. Other Latin American currencies also gained as the U.S. dollar gave up some of Thursday's strong gains. Brazil's real firmed 0.6%, while Mexico's peso extended its losing streak to a fifth day. Colombia's peso edged 0.1% higher after the country's central bank board raised its benchmark interest rate by 100 basis points to 4%, the biggest monthly increase in decades as the bank tries to counter inflationary pressures. Turkey's lira was last up 0.9% at 13.49 a dollar. The currency has risen about 35% from record lows hit last month. This followed measures to encourage lira holdings which halted the currency's free fall caused by unconventional monetary policy that created a growing a divergence between surging inflation and the country's key policy rate. Turkey's annual inflation rate is seen rising to around 47% in January - the highest in 20 years, a Reuters poll showed. Turkey's central bank has scaled back its currency interventions in January but still spent as much as $1 billion last week to keep the lira steady, according to the calculations of bankers and economists. Key Latin American stock indexes and currencies at 1902 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1190.44 -0.14 MSCI LatAm 2249.19 -0.3 Brazil Bovespa 111851.32 -0.68 Mexico IPC 50818.51 0.7 Chile IPSA 4558.25 -0.1 Argentina MerVal 88472.23 2.912 Colombia COLCAP 1530.24 0.63 Currencies Latest Daily % change Brazil real 5.3881 0.62 Mexico peso 20.8486 -0.48 Chile peso 813.6 -1.39 Colombia peso 3951.63 0.13 Peru sol 3.847 -0.51 Argentina peso (interbank) 104.8300 -0.06 Argentina peso (parallel) 209.5 6.21 (Reporting by Susan Mathew and Shreyashi Sanyal in Bengaluru; Editing by Jane Merriman and Sandra Maler)