Argentina is facing an economic crisis and the central bank has hiked interest rates three times in a span of eight days. On May 4, the interest rate was hiked to 40% from 33.25%,a day after it was raised from 30.25%, which shows an abnormal increase on any economic parameter. The situation has arrived as peso has reached a record low of 25 against the dollar ( 9% decrease).
To make up for this downfall in the first week of May the central bank of Argentina has spent $3 billion on stabilizing its currency (Read: ETFs in Focus on Growth Forecasts for Latin America).Inside The Slump in Argentina ETFs
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