The German chancellor is in Argentina, one of Germany's main trade partners in Latin America. Germany is already the country's top destination for beef. And Argentina wants to expand its exports.
Investors, chasing better returns in US dollars, have forced the two countries' currencies into free fall. The big question is whether the rout can threaten financial markets and the global economy medium-term.
Inflation has hit 25 percent, the Argentine peso has lost about 20 percent of its value against the US dollar, and the federal budget is in deficit. The government hopes the IMF loan will get the country back on track.
Argentina's central bank has performed a series of rapid-fire rate hikes to help stabilize the national currency. The country wants to prevent a repeat of its 2001-2 economic crisis that left its population in poverty.
The US Federal Reserve has raised its key lending rate by another quarter-point — the second time in 2018, and aimed at staying ahead of growing inflation amid strong growth and robust employment.
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