Argentina: Second Review Under the Stand-By Arrangement and Requests for Modification and Waiver of Performance Criteria

International Monetary Fund

No 2004/195, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper examines Argentina’s Second Review Under the Stand-By Arrangement and Requests for Modification and Waiver of Performance Criteria. The economy is recovering rapidly, while inflation remains subdued. Strengthening consumer and business confidence and cautious monetary and fiscal policies have facilitated further reductions in interest rates, a stable peso, and further reserve accumulation. Buoyant tax revenues resulted in larger-than-programmed fiscal savings in 2003. Although high commodity prices and strengthening partner country demand are pushing export receipts to record levels, imports also continue to surge, driven by buoyant economic activity.

Keywords: ISCR; CR; debt; staff appraisal; banking strategy; authorities' cooperation; debt exchange offer; debt exchange; management bank; Debt restructuring; Arrears; Tariffs; Global (search for similar items in EconPapers)
Pages: 63
Date: 2004-07-09
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Citations: View citations in EconPapers (6)

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