Up 50% Inflation, President of Argentina Requests Provisions from IMF

DELIK INDONESIA - Argentine President Alberto Fernandez in a statement presented to Reuters on Monday (02/08/2021) local time, requesting the help of the International Monetary Fund (IMF)

Previously, Argentina had fallen into recession in 2018. Therefore, to initiate the country's economic downturn, Argentine President Fernandez asked the IMF for assistance to lend US$ 57 billion.

As quoted by Reuters, Argentina's Central Bank of Inflation reached 50% in 2021. a sharp increase of 36.1% has been officially reported in the past year.

The covid-19 pandemic worsened economic conditions and the surge in poverty, consumer prices and unemployment worsened in the country. It is because it has made efforts in the past months to the IMF to restructure the loan and the terms.

"I tell you publicly that I can't let this continue to happen, because the risk is, with the pandemic, the price of this product keeps going up and we're not willing to tolerate it," he said

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