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Argentines come out to protest IMF on national holiday

People demonstrate against the government of President Mauricio Macri and the latest deal with the International Monetary Fund, during the 202nd anniversary of independence along 9 de Julio Avenue in Buenos Aires, on July 9, 2018.(AFP)

Argentines came out to protest on their national holiday Monday, July 9, in central Buenos Aires weeks after Argentine President Mauricio Macri welcomed news that the International Monetary Fund's (IMF) executive board approved a $50 billion financing deal for Argentina.

People demonstrate against the government of President Mauricio Macri and the latest deal with the International Monetary Fund, during the 202nd anniversary of independence along 9 de Julio Avenue in Buenos Aires, on July 9, 2018. (AFP)

The South American country announced it was turning to the IMF in May after a run on the peso currency. The move has been politically risky for market-friendly Macri, as many Argentines blame IMF-imposed austerity policies for exacerbating a 2001-2002 economic crisis.

In June, Argentine stocks surged after index provider MSCI upgraded the country to its emerging markets index a day earlier, a respite from months of dismal economic news for Macri in recent months.


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