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    Argentina Hikes Interest Rate To 60 Percent In Bid To Halt Currency's Fall

    When President Mauricio Macri requested early release of a $50 billion loan, he said it was to assuage market watchers' fears. But the opposite happened — and the central bank felt it had to step in.
    by Colin Dwyer Aug 30, 2018 2 minutes
    Pedestrians pass a building decorated with the Argentine national flag in Buenos Aires' financial district earlier this summer.

    When Argentine President Mauricio Macri told the country he had asked the International Monetary Fund to speed its disbursement of a $50 billion loan, he consciously aimed to assuage the fears of uneasy market watchers.

    "We have seen new expressions of a lack of confidence in the markets, specifically over our financing capacity in 2019," Macri Wednesday, adding: "This decision aims to eliminate any uncertainty."

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