Latin American Economy & Business - July 2018 (ISSN 1741-7430)

Despite the announcement of a US$50bn financial support package from the IMF, Argentina’s financial markets remain turbulent. The Buenos Aires stock market suffered a ‘black Wednesday’ on 27 June when the Merval index fell 8.9%, one of the biggest single one-day drops since the 1990s. By the following Friday, 29 June, there had been another steep fall in the value of the peso, which touched 30 to the US dollar.