Cover IMF Staff Country Reports
Argentina: Second Review under the Stand-By Arrangement; Financing Assurances Review; and Request for Modification of Performance Criterion-Press Release; and Staff Report
Author: International Monetary Fund. Western Hemisphere Dept.
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2018: Issue 374
Language:
English
Publication Date:
19 Dec 2018
DOI:
https://doi.org/10.5089/9781484391594.002
ISBN:
9781484391594
ISSN:
1934-7685
Pages:
78
Keywords:
ISCR; CR; wage inflation index; LELIQ rate; Base money; executive board discussion; CPI basket; end-December monetary base target; anchor inflation expectation; Inflation; Fiscal stance; Public sector; Monetary base; Global
Download PDF (2 MB) Download Epub
The redesigned IMF-supported economic reform program is bearing early results. Financial markets have stabilized since end-September, following the adoption of the new monetary policy framework. After the appreciation of the currency in October, the peso has floated within the non-intervention zone. Short-term interest rates have fallen back to their end-September level. The passage of the 2019 Budget with broad political support has helped solidify confidence in the authorities’ stabilization plan. As a result, demand for Argentine bonds has strengthened and sovereign risk premia have narrowed.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund