Press Release No. 11/279

Press Release: Statement by the IMF Executive Board on Argentina

July 13, 2011

Given the obligations of all member countries to provide accurate data to the International Monetary Fund (IMF), on July, 13 2011, the Executive Board met to consider a report presented by Fund management on the quality of reporting by Argentina of its official data on Consumer Price Index for Greater Buenos Aires (CPI-GBA) and Gross Domestic Product (GDP).

The Executive Board welcomed the commitment recently made by the Argentine authorities to work closely with IMF staff to improve the quality of Argentina’s reporting of the CPI-GBA and GDP data, so as to bring data reporting into compliance with the obligations under the Articles of Agreement and to implement appropriate measures based on discussions already underway with staff. The Executive Board decided to meet again within 180 days to assess the progress made and decide on any necessary measures, based on recommendations from staff.