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.
Protesters in Buenos Aires have clashed with police in front of Congress to protest cuts to the 2019 budget bill. Argentina's President Mauricio Macri needs those cuts as he has committed to balancing the budget.
President Mauricio Macri said his country is facing "an emergency" that required massive spendings cuts and agricultural taxes. This year, Argentina's currency has already lost half its value compared to the US dollar.
In its latest Financial Stability Report, the IMF has warned of greater global financial risks. It highlighted rising public and corporate debt levels in many nations and capital outflows in emerging economies.
A federal judge will decide if President Macri's administration had the authority to request the IMF loan. Argentina has been plagued by economic instability that threatens to spill over into the political arena.
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