Argentina Asks for Early Release of IMF Funds to Calm Markets

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Argentina Asks for Early Release of IMF Funds to Calm Markets President Mauricio Macri has asked the International Monetary Fund for an early release of funds from a $50 billion deal with the IMF to ease concerns that Argentina will not be able to meet its debt obligations for 2019.   Macri said Wednesday that Argentina has agreed with the IMF "to advance all necessary funds to guarantee compliance with next year's financial program."   Macri said that in the past week there have been "expressions of a lack of trust in the markets" about Argentina. He said the decision seeks to dispel any uncertainty.   Argentina was forced to strike a deal with the IMF after a sharp depreciation of its peso currency.   The Argentine currency fell again Wednesday to an all-time low of 33 pesos per U.S. dollar.  
August 30, 2018 at 04:33AM