Posted by on August 30, 2018 9:38 pm
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Categories: Politics

Argentina’s central bank raised rates 60% Thursday as an evasive maneuver to ease the proverbial pain as the countries economy continues to contract after the government borrowed more money than it can repay, report say.

The Argentine Peso was 38.7 vs. the U.S. dollar as of 5 p.m. eastern time.

The IMF is seeking to “revise the government’s economic plan” as soon as possible.

The post Argentina’s economy contracts as Peso falls to 38.7 vs. U.S. dollar appeared first on Intellihub.

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