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1 juin 2020
- handle: 10670/1.l114hr
Ce document est lié à :
10.17533/udea.le.n9208
info:eu-repo/semantics/openAccess
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Ramon Amadeo Castillo-Ponce et al., « On Argentina’s Currency Crisis of 2018 », Lecturas de Economía, ID : 10670/1.l114hr
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Résumé
Argentina painfully became the world’s riskiest sovereign borrower behind Venezuela in 2018. Its national currency, the Argentine peso, lost more than 50 % in value against the dollar in just the first 8 months of the year, contributing to rising inflation and soaring interest rates. Argentina had to ask for financial assistance from the International Monetary Fund (IMF), and the country obtained a $50-billion bailout package in June, the biggest loan in the IMF’s history. In addition to the IMF’s financing deal, Argentina’s central bank jacked up its benchmark interest rate to 60 % — the highest in the world — in late August in a struggle to fight galloping inflation and stabilize the peso, which plunged to record lows.