Argentina’s peso tumbled to a record low after President Mauricio Macri asked the International Monetary Fund to speed up disbursements from its $50 billion credit line to ease the nation’s financial crisis. The request reflects the pressure policy makers are under to reassure investors that the government will have enough money to fund itself through next year without incurring more debt. Borrowing costs soared in recent months as the country heads for its second recession in three years with inflation above 30 percent and the world’s highest interest rates.
In an interview at BNR Nieuwsradio on Tuesday 4 September 2018, Professor Casper de Vries, holder of the Witteveen Chair of Monetary Economics at Erasmus School of Economics, gives his opinion on the current situation in Argentina and the austerity measures which President Mauricio Macri has announced.
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Listen to the interview on BNR Nieuwsradio, 4 September 2018.