The Organisation for Economic Co-operation and Development (OECD) forecasts a growth rate for Argentina of two percent this year, while warning of a “drop in confidence and capital flight”.
Argentina recently experienced — in the words of President Mauricio Macri — economic “turbulence,” as the peso plummeted to historic lows against the dollar. The national currency devalued 22 percent against the dollar in May alone, bringing the yearly total to 34.6 percent and with no ceiling insight.
Argentina’s Treasury Minister Nicolás Dujovne and the Foreign Minister Jorge Faurie travelled to France on Wednesday. The country has already secured the support of the United States, France, the United Kingdom, Japan and Germany.
* This article was edited on Wednesday, May 30, 2018, to clarify the reference to the United Kingdom, correct the job title of Mr. Dujovne and the spelling of surname Lagarde. A sentence referring to the number of years full incorporation to the OECD would take was also removed.