## Argentina: First Review Under the Stand-By Arrangement and Exchange System

_IMF Staff Country Reports, July 25, 2003_

## Source details

**Canonical URL:** [Argentina: First Review Under the Stand-By Arrangement and Exchange System](https://www.imf.org/en/publications/cr/issues/2016/12/30/argentina-first-review-under-the-stand-by-arrangement-and-exchange-system-16730)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/30/argentina-first-review-under-the-stand-by-arrangement-and-exchange-system-16730/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/30/argentina-first-review-under-the-stand-by-arrangement-and-exchange-system-16730/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/30/argentina-first-review-under-the-stand-by-arrangement-and-exchange-system-16730/bundle-manifest.json)

## Bibliographic details
- Authors: Arrangement, Exchange System The
- Published: July 25, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451801330.002

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### Overall assessment
- The transitional program is broadly on track and quantitative program targets have been met.
- Structural reforms have been delayed.
- There are still risks to revenues and expenditures from possible judicial decisions.
- The fiscal program may need to be adapted for changes in the macroeconomic framework.
- Monetary policy continues to face significant uncertainties.
- Priority needs to be given to providing a predictable regulatory framework for the banking system.
- Policy preparation can facilitate the transition to the new government.

### Fiscal stance, risks, and adjustments
- Quantitative program targets: met.
- Risks to revenues and expenditures: ongoing, notably from possible judicial decisions.
- Policy implication: the fiscal program may need to be adapted for changes in the macroeconomic framework.

### Monetary policy and banking sector
- Monetary policy: continues to face significant uncertainties.
- Banking system: priority is to provide a predictable regulatory framework.

### Structural reforms and implementation
- Structural reforms: delayed relative to the program timetable.
- Implementation challenge: advance policy preparation to ease the transition to the new government.

*International Monetary Fund. "Argentina: First Review Under the Stand-By Arrangement and Exchange System", IMF Staff Country Reports 2003, 214 (2003), accessed 9/9/2026, https://doi.org/10.5089/9781451801330.002*

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## Content in this bundle

- **Argentina: First Review Under the Stand-By Arrangement and Exchange System - ISCR/03/214**
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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/argentina-first-review-under-the-stand-by-arrangement-and-exchange-system-16730_