IMF studying Argentina request for early help as peso crashes

[TomSea]

IMF studying Argentina request for early help as peso crashes
Hugh Bronstein, Jorge Otaola

BUENOS AIRES (Reuters) - The International Monetary Fund said it was studying a request from Argentina to speed up disbursement of a $50 billion loan program after a collapse in investor confidence in President Mauricio Macri’s government sent the peso tumbling more than 7 percent on Wednesday.

It was the biggest one-day decline in the peso ARS=RASL since the currency was allowed to float in December 2015. It closed at a record low of 34.10 per U.S. dollar and is down more than 45.3 percent against the greenback this year, prompting massive central bank interventions.

Nerves are frayed in Latin America’s No. 3 economy as it struggles to break free from its notorious cycle of once-a-decade financial crises. The last one, which was punctuated by a 2002 debt default, tossed millions of middle-class Argentines into poverty.

Read more at: https://www.reuters.com/article/us-argentina-economy/imf-studying-argentina-request-for-early-help-as-peso-crashes-idUSKCN1LE1IK

[To-Whose-Benefit?]

Kindest thing anyone could do for Argentina and the rest of the world is to kill the IMF.