Argentina asks IMF to release 50bn loan as crisis worsens

Argentina s government has unexpectedly asked for the early release of a 50bn loan from the IMF amid a growing economic crisis. President Mauricio Macri said the move was designed to restore confidence in the Argentine economy. The Argentine peso has lost more than 40 of its value against the US dollar this year and inflation is rampant. Investors are concerned Argentina may not be able to repay its heavy government borrowing and could default. Argentina economy: From comeback kid to turbulence IMF issues warning on global debt Correspondents say the decision to speed up the IMF bailout smacks of growing desperation. When the terms of the loan were agreed in May, President Macri said he expected the economy to recover and did not plan to use the money. How did we get here By Daniel Gallas in Buenos Aires The world s highest interest rates and backing from the IMF have failed to reassure investors. The Argentine peso is still losing value despite all attempts to meet investor concerns. Ot