Global stocks slid on Monday and U.S. oil prices slumped after U.S. President Donald Trump announced tariffs on Chinese goods and Beijing responded with similar measures in an escalating trade dispute.
IMF Reaches Staff-Level Agreement with Argentina on a Three-Year, US$50 Billion Stand-By Arrangement
Argentina will request a “high access stand-by” financing arrangement from the International Monetary Fund (IMF) to calm volatile financial markets, in a move that could finance the country through next year, officials said on Wednesday.
Argentina is to start talks about a financing deal with the International Monetary Fund (IMF) on Wednesday amid reports it is seeking $30bn (£22bn).
Argentina's central bank has raised interest rates as the country's currency, the peso, continues to fall sharply.
Trump has postponed the imposition of steel and aluminum tariffs on Canada, the European Union and Mexico until June 1, and has reached agreements for permanent exemptions for Argentina, Australia and Brazil
U.S. stock index futures rose more than a percent on Tuesday after Chinese President Xi Jinping promised to cut import tariffs, soothing investor concerns about rising U.S.-China trade tensions.