Argentina is a major exporter of foodstuffs, especially to China and the US, and relies on its sales to generate foreign currency. But now he has been forced to follow through on his statement on national television on 8 May saying he would seek IMF help. An exceptional access programme is an IMF financing programme worth anything above 145% of a country’s IMF quota per year or 435% over the life of the programme. An IMF quota is the value of a country’s share in the IMF financing system, tied to its impact in the world economy. Argentina’s government requested IMF financing earlier this month after a run on the peso currency.

Source: The Guardian May 18, 2018 19:52 UTC