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Argentina Lifts Rates to World-High, Seeks IMF Aid to Save Peso

By Tony Seruga

Currency extends losses to 12% after central bank increase
Move comes a day after Macri asked IMF for faster payouts

Argentina’s currency crisis deepened on Thursday as an emergency interest-rate increase to 60 percent failed to stop jittery investors from pulling their money out of the country.

The peso extended losses after the bank raised its benchmark measure by 15 percentage points to a global high. The hike, the second this month, was the latest attempt by policy makers to defend a currency that’s lost more than half its value this year. A day earlier, President Mauricio Macri shocked the nation with an appeal for quicker payouts from the International Monetary Fund, which said it’s considering the request…

Argentina Lifts Rates to World-High, Seeks IMF Aid to Save Peso

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