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

International Monetary Fund

No 2018/374, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 78
Date: 2018-12-19
New Economics Papers: this item is included in nep-mac
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