Originally published at: ARGENTINA NEXT? Peso PLUNGES 45% as Currency Collapses | Sean Hannity
Latin America’s third largest economy is facing yet another mounting financial crisis, with Argentina’s currency plunging a stunning 45% against the US dollar as the nation struggles to prop-up the failing peso.
“Investors are increasingly concerned Latin America’s third-largest economy could soon default as it struggles to repay heavy government borrowing. This comes after Argentina’s government unexpectedly asked for the early release of a $50 billion loan from the International Monetary Fund (IMF) on Wednesday,” writes CNBC.
The peso is down a whopping 45% in 2018 alone with inflation running rampant at over 25% this year.
The IMF released a statement regarding the escalating crisis Thursday, saying they plan to “revise the government’s economic plan with a focus on better insulating Argentina from recent shifts in global financial markets."
Read the full report at CNBC.
