IMF Staff Country Reports

Argentina: Second Review Under the Stand-By Arrangement and Requests for Modification and Waiver of Performance Criteria

Publication Date:

July 9, 2004

Electronic Access:

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Summary:

This paper examines Argentina’s Second Review Under the Stand-By Arrangement and Requests for Modification and Waiver of Performance Criteria. The economy is recovering rapidly, while inflation remains subdued. Strengthening consumer and business confidence and cautious monetary and fiscal policies have facilitated further reductions in interest rates, a stable peso, and further reserve accumulation. Buoyant tax revenues resulted in larger-than-programmed fiscal savings in 2003. Although high commodity prices and strengthening partner country demand are pushing export receipts to record levels, imports also continue to surge, driven by buoyant economic activity.

Series:

Country Report No. 2004/195

Subject:

Arrears Asset and liability management Banking Debt restructuring External debt Public debt Revenue administration Tariffs Taxes