Argentina orders 200bp rate increase, to 44.5%
Tighter monetary policy is in line with IMF deal, while neighbour Paraguay makes 50bp hike
Argentina’s central bank raised its benchmark rate 200 basis points to 44.5% on March 21, in its third hike this year
The International Monetary Fund made a tighter monetary policy a condition of its revised financing package for Argentina.
The Argentine parliament finished approving a staff-level agreement between the government and the IMF for a $45 billion package on March 17. The IMF executive board will consider the loan request today (March 25).
The IMF granted Argentina a $50 billion
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