Argentina turns to IMF

Argentina turns to IMF

Capital Markets Debt Economy & Policy Argentina

Argentina's central government has asked the IMF for a flexible credit line (FCL) said to be worth up to $30bn in order to curb its depreciating peso. President Mauricio Macri said in a televised address on Tuesday: "This is going to allow us to strengthen our growth and development program." However, the deal is unlikely to serve as a strong anchor for Argentina's economic requirements, according to Edward Glossop, an economist for Latin America at Capital Economics. "Financial markets have

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