Press Release No. 14/577

Press Release: Statement by the IMF Executive Board on Argentina

December 15, 2014

The Executive Board of the International Monetary Fund (IMF) met today to consider the Managing Director’s report on Argentina’s progress in implementing the second set of specified actions called for by the Executive Board to address the quality of the official data reported to the Fund for the Consumer Price Index (CPI) and Gross Domestic Product (GDP).

The Executive Board recognized the implementation of all the specified actions it had called for by end-September 2014 and the steps taken by the Argentine authorities to remedy the inaccurate provision of data. In line with the Board decision adopted in December 2013, the Argentine authorities must implement actions previously specified for end-February 2015. The Managing Director will next report to the Executive Board on the status of Argentina’s implementation of the specified actions by April 15, 2015. The Board will be provided with an assessment of Argentina’s performance of its obligations under Article VIII, Section 5 of the Articles of Agreement. At that time, the Executive Board will again review these issues in line with IMF procedures.

The Fund will pursue discussions with the authorities and also welcomes the efforts made and initial advances achieved to improve the quality of Argentina’s official CPI and GDP data and stands ready to continue this dialogue, and, more generally, to further strengthen relations with Argentina.