# EM crisis: IMF boosts lending to Argentina to halt peso slide

> The IMF increased its three-year Argentina program by $7 billion to $57 billion, with $19 billion of added financing front-loaded through end-2019. Argentina's central bank agreed to let the peso float and intervene only in extreme circumstances.

- Date: 2018-09-27 · published 2018-09-27T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/63334-em-crisis-imf-boosts-lending-to-argentina-to-halt-peso-slide
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A freely floating peso backed by IMF funds may lift Argentine export competitiveness in soybeans and corn, adding pressure on global soymeal and corn prices, though drought limits supply.

## Read by commodity

- SBM: bearish ▼
- CORN: bearish ▼
- USDARS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-12-12 | [Argentina Sharply Devalues Its Peso Currency to Tame Inflation](https://feedsoft.ai/events/32998-argentina-sharply-devalues-its-peso-currency-to-tame-inflation.md) | -3.3% | -11.7% |
| SBM | 2022-11-26 | [Argentina to brings back exchange rate that led to IMF exception \| Buenos Aires Times](https://feedsoft.ai/events/38950-argentina-to-brings-back-exchange-rate-that-led-to-imf-exception-buenos-aires.md) | +3.4% | +11.2% |
| SBM | 2022-12-05 | [Lowered taxes to boost Argentine soyabean meal and oil exports](https://feedsoft.ai/events/13993-lowered-taxes-to-boost-argentine-soyabean-meal-and-oil-exports.md) | +9.8% | +13.7% |
| SBM | 2023-12-21 | [Changes in Argentina should boost the country’s soymeal and soyoil exports](https://feedsoft.ai/events/32788-changes-in-argentina-should-boost-the-country-s-soymeal-and-soyoil-exports.md) | -1.4% | -7.3% |
| SBM | 2023-04-05 | [Argentina unveils third 'soybean dollar' program to boost farmer sales](https://feedsoft.ai/events/13974-argentina-unveils-third-soybean-dollar-program-to-boost-farmer-sales.md) | +0.2% | -6.0% |
| CORN | 2023-12-12 | [Argentina Sharply Devalues Its Peso Currency to Tame Inflation](https://feedsoft.ai/events/32998-argentina-sharply-devalues-its-peso-currency-to-tame-inflation.md) | +1.9% | +0.1% |
| CORN | 2026-05-26 | [Argentina to Gradually Reduce Soy, Corn Taxes in Coming Years](https://feedsoft.ai/events/13795-argentina-to-gradually-reduce-soy-corn-taxes-in-coming-years.md) | -2.5% | -8.6% |
| CORN | 2023-07-25 | [Argentina announces measures to boost foreign reserves \| Buenos Aires Times](https://feedsoft.ai/events/35334-argentina-announces-measures-to-boost-foreign-reserves-buenos-aires-times.md) | -13.4% | -17.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/09/27/imf-boosts-argentina-program-to-57-billion-in-bid-to-halt-peso-slide.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.