May 9, 2018 |
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 wel
President Mauricio Macri asks the Washington DC-based fund for a flexible credit line to aid the fledgling peso