Treasury Minister Nicolas Dujovne met with IMF Western Hemisphere Director Alejandro Werner in Washington on Wednesday, as Argentina tries to tackle one of the world’s highest inflation rates and a general outflow of funds from emerging market economies.

The deal would guarantee financing through the end of President Mauricio Macri’s first term in December 2019 at a “very good” interest rate of around 4 percent, Finance Minister Luis Caputo said, adding that the stand-by deal would be “flexible” and allow for more funding than other options.

“It is the type of loan that allows us to maximize the amount of money we can ask of the fund,” Caputo said in an interview on local television channel TN.

But analysts said a stand-by deal would require more conditions than other types of financing available to more solvent countries. Argentina announced it was seeking a lifeline from the IMF on Tuesday after the peso currency weakened to all-time lows.

Turning to the IMF is a politically risky move for business friendly Macri, who was elected in late 2015 after 12 years of leftist government. Many Argentines blame the IMF for imposing policies on Argentina that led to a deep financial crisis in 2001 and 2002.

Argentina announced it was seeking a lifeline from the IMF on Tuesday after the peso currency weakened to all-time lows. Negotiations for these types of deals often take up to six weeks, the ministry said.

An IMF spokesman said discussions would continue on Thursday when Dujovne will meet with IMF Managing Director Christine Lagarde in Washington.