News analysis

Economic history repeats itself in Argentina

Recession-hit country seeks another IMF bailout as debt repayment looms

When Argentina's President Mauricio Macri first came to office three years ago, his chief promise was to make his country "normal", by which he meant that the world's eighth-largest state should be politically and financially stable, as most countries aspire to be.

Mr Macri has met his objective, although not in the way he intended. For Argentina has returned to its own tradition of "normality" by experiencing yet another boom-and-bust economic cycle and by turning yet again to the International Monetary Fund (IMF) for help to avoid bankruptcy.

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A version of this article appeared in the print edition of The Sunday Times on September 09, 2018, with the headline 'Economic history repeats itself in Argentina'. Print Edition | Subscribe