{"id":34098,"date":"2018-05-09T06:03:15","date_gmt":"2018-05-09T11:03:15","guid":{"rendered":"http:\/\/olduvai.ca\/?p=34098"},"modified":"2018-05-09T06:03:15","modified_gmt":"2018-05-09T11:03:15","slug":"argentina-seeks-imf-financing-following-yesterdays-hike-in-rates-to-40","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=34098","title":{"rendered":"Argentina Seeks IMF Financing Following Yesterday’s Hike in Rates to 40%."},"content":{"rendered":"
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Argentina Seeks IMF Financing Following Yesterday’s Hike in Rates to 40%.<\/a><\/h3>\n<\/div>\n
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Argentina once again seeks help from the IMF following yesterday’s 40% interest rate hike.<\/p>\n<\/section>\n<\/div>\n<\/header>\n
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Last year, Argentina was a favorite destination for investors. This year, Argentina is facing yet another currency crisis.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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A run on the Peso started last month as investors soured on the country. To combat the run, the Argentine central bank hiked rates to 40%<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\u201cThe market has been in total panic mode the last few days,\u201d said Brendan Murphy, head of global and multisector fixed income at BNY Mellon Asset Management North America.<\/p>\n

The declines are the latest sign that rising U.S. interest rates and a strengthening dollar are prompting investors to pull money out of some of the world\u2019s riskiest markets, especially those with the largest trade and budget deficits.<\/p>\n

Other higher-risk markets like Indonesia and Turkey also have suffered big declines in recent days. Standard & Poor\u2019s Global Ratings on Tuesday cut Turkey\u2019s sovereign-debt rating further into junk, citing the country\u2019s debt, rising inflation and volatile currency. Turkey\u2019s main stock market has fallen 4.7% last week, while its currency has declined 4.4%. Indonesia\u2019s JSX Composite Index slumped 6.6% the week ending April 27\u2014the most of any major index globally, according to FactSet\u2014when foreigners fled the market.<\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/div>\n

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Argentina Calls IMF<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Once again, Argentina finds itself in a currency crisis. Reuters reports Argentina president says seeking financing from IMF<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\u201cJust a few minutes ago I spoke with Director Christine Lagarde, and she confirmed we would start working on an agreement today,\u201d Argentina\u2019s President Mauricio Macri said in an address to the nation.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"

Argentina Seeks IMF Financing Following Yesterday’s Hike in Rates to 40%. Argentina once again seeks help from the IMF following yesterday’s 40% interest rate hike. Last year, Argentina was a favorite destination for investors. This year, Argentina is facing yet another currency crisis. A run on the Peso started last month as investors soured on […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2251,418,431,434,14648,13390,534],"class_list":["post-34098","post","type-post","status-publish","format-standard","hentry","category-economics","tag-argentina","tag-imf","tag-interest-rates","tag-international-monetary-fund","tag-michael-shedlock","tag-mishtalk","tag-monetary-policy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34098"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34098\/revisions"}],"predecessor-version":[{"id":34099,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34098\/revisions\/34099"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}