Argentinians unhappy with country's new IMF deal

Argentinians unhappy with country's new IMF deal
By Chris Pilcher
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The International Monetary Fund is meeting in Washington approve a €42 billion after President Mauricio Macri reached out to ease the country's financial woes.

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Argentinians march through Buenos Aires, protesting against the country's new deal with the International Monetary Fund to receive up to €42 billion.

President Mauricio Macri's country reached out to the "safety net" of IMF last month after its peso currency hit an all-time low.

In return, Argentina has agreed to tackle its double-digit inflation and public spending.

The nation's economy has struggled ever since a devastating economic crisis in 2001/02 and Argentinians blame this on IMF-imposed austerity measures.

As part of the agreement, Argentina will reduce its fiscal deficit to 1.3% of gross domestic product in 2019, down from 2.2% previously, a statement from the president's office said. The government will also send a proposal to Congress to reform the central bank charter and strengthen its autonomy.

The IMF lender's board is expected to vote on the three-year agreement over the coming days in Washington.

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