Argentina: Second Review under the Stand-By Arrangement; Financing Assurances Review; and Request for Modification of Performance Criterion-Press Release; and Staff Report

December 19, 2018

Preview Citation

Format: Chicago

Argentina: Second Review under the Stand-By Arrangement; Financing Assurances Review; and Request for Modification of Performance Criterion-Press Release; and Staff Report, (USA: International Monetary Fund, 2018) accessed November 23, 2024

Summary

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.

Subject: Economic sectors, Fiscal policy, Fiscal stance, Inflation, Monetary base, Money, Prices, Public debt, Public sector

Keywords: Anchor inflation expectation, Base money, CPI basket, CR, End-December monetary base target, Executive board discussion, Fiscal stance, Global, Inflation, ISCR, LELIQ rate, Monetary base, Public sector, Wage inflation index

Publication Details

Pages:

78
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/374
Stock No:

1ARGEA2018005
ISBN:

9781484391594
ISSN:

1934-7685

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