Pablo Gonzalez
Argentina asked the International Monetary Fund for financing to help stem a five-month-rout in the peso that is sparking a surge in interest rates and threatening to derail the country’s economic recovery.
“This will allow us to face the new global scenario and avoid a crisis like the ones we have faced before in our history,” President Mauricio Macri said in a televised address on Tuesday (Wednesday AEST).
The president didn’t state how much money was being requested but a person with direct knowledge of the talks said officials are seeking a flexible credit line worth $US30 billion ($40.2 billion). Treasury Minister Nicolas Dujovne was to lead a delegation to W…
Read the full article at: http://www.afr.com/markets/debt-markets/argentina-seeks-us30b-imf-financing-to-address-peso-volatility-20180508-h0ztgw