Argentina’s Neighbors Appeal to IMF
Argentina’s five neighbors called on the International Monetary Fund to provide fresh loans to the country as hundreds of depositors stormed banks in downtown Buenos Aires demanding their savings.
The presidents of Brazil, Uruguay, Chile, Bolivia and Paraguay, meeting in Buenos Aires, asked the IMF and other lenders to consider Argentina’s request for as much as $20 billion in new assistance to avert bank failures and spur the economy after a debt default and currency devaluation.
The plea, made in a joint statement, underscores concern that Argentina’s economic crisis will limit trade and stall economic growth across the region.
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