Hopes were high when Mauricio Macri became President of Argentina. Now nearly 18 months later, reality has set in. The hoped-for turnaround has not yet happened, and life for many Argentines remains tough.
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.
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.
It seems like bad news is springing up from many major economies. Although it's too early to talk of a doomsday scenario, the risks should no longer be ignored, says DW's Henrik Böhme.
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