IMF Staff Country Reports

Argentina: Fourth Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Modification of Performance Criteria, Waiver for Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Argentina

Publication Date:

April 3, 2023

Electronic Access:

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

Summary:

Implementation of more prudent macroeconomic policies in the second half of 2022 supported a moderation in inflation and improvements of fiscal and external balances through end-2022. However, against the backdrop of still large macroeconomic imbalances and challenges from an increasingly severe drought, the nascent improvements in inflation and reserve coverage have proved evasive. Meanwhile, policy setbacks have contributed to recent underperformance and added to uncertainties about the political resolve to adhere to the program ahead of the elections. The authorities reaffirmed their commitments to implement the program, which they continue to view as the key anchor for policy making. In this context, the review discussions focused on strengthening policies to secure delivery of key underlying program objectives, and on how best to adapt to an increasingly complex environment, while avoiding building future vulnerabilities.

Series:

Country Report No. 2023/133

Subject:

International organization Monetary policy

Frequency:

regular