The second largest country in Latin America remains mired in crisis more than a year after Mauricio Macri took the reins of power. Unemployment is high, and inflation continues to soar.
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.
The government of Argentina denied that it was facing economic failure after the peso fell for three straight days. Investors appear unconvinced that President Mauricio Macri can alleviate the country's economic woes.
The International Monetary Fund (IMF) has been described as the lender of last resort for countries in financial distress. But the stiff medicine doled out by the fund is still subject to huge controversy.
Turkey's central bank has shown it has teeth, hiking interest rates beyond expectations to quell inflation and calm investor nerves. But as recession looms and Erdogan growls, Turkey is not quite out of the woods.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version