Argentina Turns to the IMF For Help

Argentina has started talks with the International Monetary Fund seeking financial rescue once again, as inflation soars and the currency sinks.Buenos Aires looks to be going through another economic nightmare, with prices rising rapidly while the Argentine peso drops. The central bank announced last week another increase in rates to 40 percent — as the 12-month inflation rate hit 25.4 percent, above its 15 percent target. At the same time, since the start of the year, the peso is down by more than 20 percent against the U.S. dollar.”Argentina is still a difficult country and unless they do reforms then it’s going to be having issues,” Michele Gesualdi, the chief investment officer at Kairos Investment Management, told CNBC’s “Squawk Box Europe” Wednesday.

Source: Argentina looks to be headed for another economic storm – IMF

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