The wall street Journal.

Argentina Seeks Credit Line From IMF.

Government is trying to contain a steady depreciation of the peso.///

By 

Ryan Dube and

 

Julie Wernau

Updated May 8, 2018 5:02 p.m. ET

BUENOS AIRES—Argentina turned to the International Monetary Fund for financial backing to help stem the peso’s depreciation and rising discontent over high inflation and reduced government spending.

In a televised address on Tuesday, President Mauricio Macri said the move is aimed at avoiding a crisis like those that Argentina suffered in the past. It will be the IMF’s first financial support package for the country since 2003.