Argentina : Third Review under the Stand-By Arrangement, Request for Waivers of Applicability of Performance Criteria, Financing Assurances Review, and Request for Modification of Performance Criteria-Press Release and Staff Report

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

April 5, 2019

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The Argentina economy continues to contract, albeit at a modestly slower pace than had been expected under the program. After a brief period of falling monthly inflation, price pressures and inflation expectations are again rising. Financial conditions improved in January, with declining sovereign spreads and a rally in the local equity market, but have since then erased much of those gains, with rising volatility in both currency and interest rates in March. Nonetheless, the central government has fully rolled over its amortizing obligations over the past three months. Since the introduction of the new monetary framework in October, the central bank has maintained the growth rate of the monetary base below its targets and, in January and February, has purchased US$1 billion in FX reserves.

Series:

Country Report No. 19/99

Subject:

English

Publication Date:

April 5, 2019

ISBN/ISSN:

9781498306737/1934-7685

Stock No:

1ARGEA2019003

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

85

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