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

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

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. 18/374

Subject:

Central Banks Corruption Debt management Debt sustainability analysis Economic indicators External sector Fiscal policy Governance Inflation Letters of Intent Monetary policy Performance criteria modifications Press releases Public debt Reserve requirements Staff reports Stand-by arrangement reviews