Economics
With $56 Billion Loan in Danger, IMF Officials Fly to Argentina
- Investors bet on default after market-friendly Macri lost vote
- Uneasy echoes of last IMF-Argentina bailout, which ended badly
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The International Monetary Fund’s record loan to Argentina last year was supposed to turn the page on a troubled history. It’s looking more like a case of déjà vu.
Less than two decades ago, Argentina crashed out of an IMF program, defaulted on debt and plunged into depression. As Fund officials arrived in Buenos Aires over the weekend to assess the country’s current $56 billion bailout –- and decide whether to keep doling out cash -- some of the same warning signals are flashing.