Argentina: Second Review Under the Stand-By Arrangement and Request for Waivers of Nonobservance and Applicability of Performance Criteria

International Monetary Fund

No 2003/215, IMF Staff Country Reports from International Monetary Fund

Abstract: Sound macroeconomic policies are key to improving market sentiment and smoothing the political transition. Implementation of structural reforms has been disappointing. The introduction of a further stay on mortgage foreclosures sends a highly negative signal about the protection of creditor rights. Continuation of a prudent fiscal policy will be the first challenge for the new administration. A cautious easing of monetary policy appears warranted given recent price and exchange rate trends. The new administration faces enormous challenges in advancing toward an appropriately comprehensive structural reform program.

Keywords: ISCR; CR; successor program; Stand-By Arrangement; Argentina's Stand-By Arrangement; government; executive board discussion; government loan; financing information; Bank resolution; Arrears; Public sector; Europe (search for similar items in EconPapers)
Pages: 57
Date: 2003-07-25
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