Mubasher: The Argentinian Peso has dropped by nearly 8% against the US Dollar on Wednesday, after the government asked the International Monetary Fund (IMF) to speed up its huge financing package.

Argentine’s President Mauricio Macri has called upon the IMF for an early release of the needed funds to ensure the 2019 finance program.

The IMF recently approved a $50 million finance to help the country through an economic crisis, of which $15 billion were imbursed last June, after the Central Bank of Argentina hiked interest rates by a surprising 45%.

The peso widened its losses to nearly 41% year-to-date.