Argentina: the peso fell slightly at the beginning of the negotiations with the IMF

A panel indicates the value of the argentine peso against the dollar, the may 8, 2018 in Buenos Aires (Photo by JUAN MABROMATA. AFP)

The argentine peso was Wednesday morning with a slight drop of 0.17 per cent, to 22,98 units for a dollar, at the moment the negotiations with the international monetary Fund (IMF) began in Washington.

The local Stock market was also of the colors at the opening, its benchmark index, the Merval, rising 2.7%, after five sessions of decline in a row.

The argentine president Mauricio Macri has announced on Tuesday that Argentina requested the support of the IMF, while the third largest economy in Latin America, through turbulence, with a fall of the peso of 5% in a week.

The minister of the Economy Nicolas Dujovne arrived in Washington on Wednesday.

Started again in 2017 on the path of growth, Argentina had hoped this year to contain inflation to 15%, but the devaluation will undoubtedly boost the price increase.

Over a month, the peso has shrunk to about 10%.

17 years ago, in 2001, Argentina had been shaken by the worst financial crisis in its history, which was to fall successively four presidents in a week, and led the country in default of payment, a true national trauma.

In January 2006, Argentina had repaid its last loan from the IMF, to $ 9.6 billion.

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