IMF Begins Work on Bailout for Argentina, With a U.S. Blessing

Its peso has fallen drastically as it struggles to emerge from years of budget deficits, high inflation and trade imbalances

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The International Monetary Fund moved on Friday to formally begin negotiations on a bailout of Argentina, without any objection from the Trump administration.

The crisis in Argentina has prompted the U.S. to once again embrace the type of multilateral and global institutions that have often come under heavy criticism from the Trump White House.

IMF...