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.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
