New Wave of Financial and Political Crisis in Argentina

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As Argentina’s currency drops dramatically in value, the administration of President Mauricio Macri has turned to the International Monetary Fund for assistance yet again in early September 2018. In return for its aid, the IMF has called on him to implement a tough austerity program. The peso has collapsed over the course of 2018, losing more than 50% of its value against the U.S. dollar, and investors worry about the government’s ability to pay its debts. Observers offered very different ideas about how Argentina got here, and who is to blame.

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