## IMF Team Statement on Argentina

_IMF News, December 10, 2021_

## Source details

**Canonical URL:** [IMF Team Statement on Argentina](https://www.imf.org/en/news/articles/2021/12/10/pr21371-imf-mission-team-statement-on-argentina)

## Other formats

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## Bibliographic details
- Published: December 10, 2021

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### Meeting details
- Press Release No. 21/371
- Date: December 10, 2021
- IMF Communications Department; MEDIA RELATIONS; PRESS OFFICER: Maria Candia
- Contact: Phone: +1 202 623-7100; Email: MEDIA@IMF.org; @IMFSpokesperson
- An IMF team, led by Julie Kozack, Deputy Director of the Western Hemisphere Department, and Luis Cubeddu, mission chief for Argentina, met on December 5-10 in Washington, D.C. with a technical delegation from the Ministry of Economy and Central Bank of the Republic of Argentina.

### Key findings and economic assessment
- The teams analyzed recent economic developments and discussed the outlook for growth, inflation, and Argentina’s balance of payments.
- The teams acknowledged the stronger-than-expected rebound in economic activity and investment in 2021.
- Exports grew very robustly in 2021, especially in value-added sectors.
- Importance of a policy framework to durably sustain the economic recovery and improvements in social and employment conditions.

### Policy priorities and recommendations
- Gradually and sustainably improve public finances while allowing for infrastructure, technology, and targeted social spending.
- Tackle persistent high inflation through a multipronged approach:
  - Reduction of monetary financing of the fiscal deficit.
  - Appropriate monetary policy with positive real interest rates.
  - Wage-price coordination.
- Support building international reserves, including by encouraging foreign direct investment and exports.
- Develop the domestic capital market.
- Strengthen the effectiveness of public spending.
- Improve monetary policy operations.
- Secure broad support—both domestically in Argentina and within the international community—for overall success of the economic program.

### Progress and outlook
- Progress was made on steps to develop the domestic capital market, strengthen the effectiveness of public spending, and improve monetary policy operations.
- While further discussions are needed, the IMF team and the Argentine authorities remain fully committed to their collective work on a framework and policies for an IMF-supported program.

*Source: IMF Team Statement on Argentina (Press Release No. 21/371), December 10, 2021.*

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## References

- [Argentina and the IMF](http://www.imf.org/external/country/ARG/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2021/12/10/pr21371-imf-mission-team-statement-on-argentina_