Argentina pushes interest rates to 40% to defend the peso Read moreMacri said international conditions had changed since he assumed office in December 2015. Government sources quoted in Argentina suggested that Macri will be requesting $30bn from the IMF at below market interest rates. Shoring up the value of the peso has proven a heavy drain on central bank reserves in the last months. Last month the IMF reduced its growth forecasts for Argentina during 2018 from 2.5% to 2%. The government also seems unlikely to meet its projected inflation rate of only 15% for 2018, with the IMF predicting 19.2% instead.

Source: The Guardian May 08, 2018 21:26 UTC