Argentina seeks IMF loan to help 'avoid crisis' as peso slides

Argentina has asked the International Monetary Fund for financing to help stem a five-month-rout in the peso that is sparking a surge in interest rates and threatening to derail the country's economic recovery.

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    Argentina is in talks about a financing deal with the International Monetary Fund (IMF).

    This comes after recent turmoil saw interest rates hit 40 percent, the highest among major economies.

    President Mauricio Macri has said the aid would "strengthen growth" and help avoid crises of the past, but many people are not convinced.

    Al Jazeera's Teresa Bo reports from Buenos Aires.


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