In 2018, Argentina's peso was collapsing. A severe drought had hit exports, capital was fleeing the country, and by September the currency had lost more than half its value against the dollar. Argentina turned to the IMF and secured a $57 billion program, the largest in the Fund's history. But the deal was deeply controversial at home. Many Argentines still blamed the IMF for the 2001 crisis, when the Fund cut off support and the country's economy collapsed into default.