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 said in a speech posted to Facebook Wednesday, adding: "This decision aims to eliminate any uncertainty."
By Thursday, however, the move appeared to have had just the opposite effect — and Argentine authorities were scrambling to mitigate it.
https://www.npr.org/2018/08/30/643264044/argentina-hikes-interest-rate-to-60-percent-in-bid-to-halt-currencys-fall
