Argentina: Second Review Under the Stand-By Arrangement and Request for Waivers of Nonobservance and Applicability of Performance Criteria
July 25, 2003
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Sound macroeconomic policies are key to improving market sentiment and smoothing the political transition. Implementation of structural reforms has been disappointing. The introduction of a further stay on mortgage foreclosures sends a highly negative signal about the protection of creditor rights. Continuation of a prudent fiscal policy will be the first challenge for the new administration. A cautious easing of monetary policy appears warranted given recent price and exchange rate trends. The new administration faces enormous challenges in advancing toward an appropriately comprehensive structural reform program.
Subject: Arrears, Bank resolution, Banking, Economic sectors, Expenditure, External debt, Financial crises, Monetary base, Public debt, Public sector
Keywords: Argentina's Stand-By Arrangement, Arrears, Bank resolution, CR, Europe, executive board discussion, financing information, government, government loan, ISCR, Public sector, Stand-By Arrangement, successor program
Pages:
57
Volume:
2003
DOI:
Issue:
215
Series:
Country Report No. 2003/215
Stock No:
1ARGEA0032003
ISBN:
9781451801354
ISSN:
1934-7685
