IMF Staff Country Reports

Argentina: Second Review under the Stand-By Arrangement; Financing Assurances Review; and Request for Modification of Performance Criterion-Press Release; and Staff Report

Publication Date:

December 19, 2018

Electronic Access:

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Summary:

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.

Series:

Country Report No. 2018/374

Subject:

Economic sectors Fiscal policy Fiscal stance Inflation Monetary base Money Prices Public debt Public sector