Argentina rescue advances as emerging markets suffer outflows

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The International Monetary Fund is advancing with support for Argentina, as many emerging market currencies continue to suffer pressure.

The IMF’s executive board held an “informal meeting” to discuss Argentina’s situation on May 18. In a statement, managing director Christine Lagarde stressed Argentina under president Mauricio Macri’s administration has been implementing a “fundamental and welcome transformation of its economy”.

The peso has suffered sharp drops against the dollar as part of

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