Argentina adopts floating FX regime to tackle peso crisis
IMF extends running standby arrangement to $57.1 billion
The Central Bank of Argentina (BCRA) will implement a floating exchange rate regime and limit foreign exchange interventions to episodes of acute depreciation, it said on September 26.
The BCRA and the International Monetary Fund also announced that Argentina had abandoned its inflation target to aim at controlling the country’s monetary base. IMF head Christine Lagarde also announced plans to expand the organisation’s support for Argentina to make approximately $57.1 billion available.
The
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