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Heather Kerrigan

In: Historic Documents of 2018

Chapter : IMF Issues Financial Support during Argentina Financial Crisis : June 20, August 29, and October 26, 2018

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IMF Issues Financial Support during Argentina Financial Crisis : June 20, August 29, and October 26, 2018
IMF Issues Financial Support during Argentina Financial Crisis
Heather Kerrigan

Argentina, Latin America’s third-largest economy, spiraled deeper into economic turmoil in 2018. By fall, the nation was facing inflation over 30 percent and interest rates as high as 60 percent, the monthly gross domestic product (GDP) had fallen sharply, and the president’s approval rating plummeted. Despite promises that he would revive the economy, the president’s economic plans only resulted in an increasing number of Argentinians falling into poverty. The crisis led to the request of a $50 billion standby loan from the International Monetary Fund (IMF), which the government initially intended to use only to ...

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