Argentina: First Review under the Stand-By Arrangement; Inflation Consultation; Financing Assurances Review; and Request for Rephasing, Augmentation, Waivers of Nonobservance and Applicability of Performance Criteria, and Modification of Performance Criteria-Press Release; Staff Report; and Staff Supplement

International Monetary Fund

No 2018/297, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Argentina’s First Review Under the Stand-By Arrangement (SBA), Inflation Consultation, Financing Assurances Review, and Requests for Rephasing, Augmentation, Waivers of Nonobservance and Applicability of Performance Criteria. All performance criteria and the structural benchmark for end-June were met. The authorities have proactively recognized that restoring stability in Argentina will require a significant reshaping of their policy program and have requested changes in the nature of IMF support under the SBA. The authorities are forcefully strengthening their policy program by eliminating the primary fiscal deficit in 2019 and targeting a primary surplus in 2020. The IMF staff supports the authorities’ request to modify the program supported by the SBA.

Keywords: ISCR; CR; y inflation; Center inflation target; Argentina; debt service; inflation expectation; verifiable monetary policy regime; budget support; liquidity position; draft budget; authorities' effort; Fiscal stance; Public sector; Monetary base; Global (search for similar items in EconPapers)
Pages: 113
Date: 2018-10-26
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