On Argentina’s Currency Crisis of 2018

Ramon Amadeo Castillo Ponce () and Kon S. Lai ()

Revista Lecturas de Economía, 2020, issue No. 92, 225-233

Abstract: Abstract: Argentina painfully became the world’s riskiest sovereign borrower behind Venezuela in 2018. Its national currency, the Argentine peso, lost more than 50 % in value against the dollar in just the first 8 months of the year, contributing to rising inflation and soaring interest rates. Argentina had to ask for financial assistance from the International Monetary Fund (IMF), and the country obtained a $50-billion bailout package in June, the biggest loan in the IMF’s history. In addition to the IMF’s financing deal, Argentina’s central bank jacked up its benchmark interest rate to 60 % — the highest in the world — in late August in a struggle to fight galloping inflation and stabilize the peso, which plunged to record lows

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:col:000174:019575

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