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.
China is experiencing its weakest economic growth since the global financial crisis of 2008. Since the root causes are homemade, this is not an insurmountable problem, says DW’s Frank Sieren.
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.
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.
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