Argentina is in line with IMF

- Argentina has reportedly requested billions of dollars in funding from the International Monetary Fund (IMF). The money is needed to support the Argentine peso. The currency has fallen sharply in value in five months, which has led to an increase in interest rates. The devaluation also threatens to derail the economic recovery.

The Argentine government did not mention an amount. However, there was talk of money that will enable the country to support growth and development programs. According to sources, it is an injection of 30 billion dollars. The IMF confirmed that there are talks on the role about the future of the Argentine economy.

The value of the peso has plummeted almost a fifth this year. This also has repercussions on share and bond prices. The central bank of Argentina raised the interest rate in three steps to 40 percent over a ten-day period. That is the highest level of all major economies.

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