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

December 19, 2018

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Argentina: Second Review under the Stand-By Arrangement; Financing Assurances Review; and Request for Modification of Performance Criterion-Press Release; and Staff Report, (USA: International Monetary Fund, 2018) accessed October 9, 2024

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.

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

Publication Details

  • Pages:

    78

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2018/374

  • Stock No:

    1ARGEA2018005

  • ISBN:

    9781484391594

  • ISSN:

    1934-7685