Argentina: Second Review under the Stand-By Arrangement; Financing Assurances Review; and Request for Modification of Performance Criterion-Press Release; and Staff Report
December 19, 2018
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The redesigned IMF-supported economic reform program is bearing early results. Financial markets have stabilized since end-September, following the adoption of the new monetary policy framework. After the appreciation of the currency in October, the peso has floated within the non-intervention zone. Short-term interest rates have fallen back to their end-September level. The passage of the 2019 Budget with broad political support has helped solidify confidence in the authorities’ stabilization plan. As a result, demand for Argentine bonds has strengthened and sovereign risk premia have narrowed.
Subject: Economic sectors, Fiscal policy, Fiscal stance, Inflation, Monetary base, Money, Prices, Public debt, Public sector
Keywords: anchor inflation expectation, Base money, CPI basket, CR, end-December monetary base target, executive board discussion, Fiscal stance, Global, Inflation, ISCR, LELIQ rate, Monetary base, Public sector, wage inflation index
Pages:
78
Volume:
2018
DOI:
Issue:
374
Series:
Country Report No. 2018/374
Stock No:
1ARGEA2018005
ISBN:
9781484391594
ISSN:
1934-7685
