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Argentina – another emerging market economy feels the heat
Currency exchange values are displayed in the buy-sell board of a bureau de exchange in Buenos Aires, on August 29, 2018. - Argentina's President Mauricio Macri said Wednesday that the International Monetary Fund has agreed to accelerate funding in support of his government's austerity program. The development came amid heightened volatility in the South American country's financial and currency markets, which have been battered by uncertainty over inflation, an economic downturn and budget deficits.
EITAN ABRAMOVICH/AFP/Getty Images
Argentina is asking the International Monetary Fund to speed up payment of a $50 billion aid package the IMF granted back in June. Many are taking it as a sign that South America’s second largest economy is in worse shape than previously believed.
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