Argentina's Economy Minister Nicolas Dujovne heads to Washington on Monday to thrash out a hastily revised loan deal with the International Monetary Fund to help revive South America's second-largest economy.
Argentina's central bank yanked its benchmark interest rate up to a dizzying 60 per cent in a bid to control rampant inflation as the country's currency plummeted 15.8 per cent to a record low 40.5 pesos per US dollar.
The International Monetary Fund is warning that Venezuela's inflation could reach one million percent by the end of the year.
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.
