Argentina Hikes Interest Rate To 60 Percent In Bid To Halt Currency's Fall
When President Mauricio Macri requested early release of a $50 billion loan, he said it was to assuage market watchers' fears. But the opposite happened — and the central bank felt it had to step in.
When Argentine President Mauricio Macri told the country he had asked the International Monetary Fund to speed its disbursement of a $50 billion loan, he consciously aimed to assuage the fears of uneasy market watchers.
"We have seen new expressions of a lack of confidence in the markets, specifically over our financing capacity in 2019," Macri Wednesday, adding: "This decision aims to eliminate any uncertainty."
