Video Duration 02 minutes 09 seconds

Argentina economy; Thousands protest as peso tumbles

The International Monetary Fund has extended a $50bn bailout loan to Argentina.

Argentina‘s attempts to stop an economic crisis from spiraling don’t seem to be working.

The peso has plunged to a record low and it’s got even more expensive for anyone to borrow.

The Central Bank raised its interest rate to 60 percent on Thursday, the highest in the world.

Students have already been on the streets and strikes are being planned.

Al Jazeera’s Paul Chaderjian reports.