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Argentina: Will the IMF Save or Doom Macri's Reform Agenda?

May 09, 2018

After weeks of relentless pressure against the peso, on May 8 Mauricio Macri announced the beginning of discussions with the International Monetary Fund (IMF) for a credit line. The decision might placate financial markets and provide time for the government to continue its gradual reforms. But the deal will come with a heavy price: The IMF is infamous in Argentina – rightly or not – as the main culprit of the economic, social and political collapse of December 2001. 

The origin of the present financial crisis was the shift of short-term financial investments from emerging markets...

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