Amid a deepened economic crisis, Argentina’s central bank on 30th of August raised its standard interest by 15 percentage points to global high 60%.
The Argentine peso is down 50% this year against the dollar and the nation’s inflation is running at over 30%.
Argentina President Mauricio Macri has requested for an early release of a $50-billion loan from the International Monetary Fund.
Argentina had one of the ten highest per capita GDP levels in the world, at par with Canada and Australia and surpassing both France and Italy.
Argentina today (2018) is plagued by currency crisis which involved a potential bailout from International Monetary Fund.
The currency declined by 18% over a period of 12 days in May 2018 to more than 25 Argentine pesos per U.S. Dollar.
