In a recent press conference, the International Monetary Fund (IMF) recognized Argentina’s impressive progress in its economy, particularly in fiscal terms, international reserves, and inflation. While praising the government’s ambitious stabilization plan, the IMF emphasized the need for a firm implementation of measures and improving the quality of fiscal adjustment.
Director Julie Kozack highlighted several positive aspects of Argentina’s economic performance during her speech. She pointed out that the country achieved a fiscal surplus in January and February and managed to recover international reserves. Additionally, the inflation rate has decreased significantly. However, Kozack also warned that achieving stability is a challenging task that requires continued efforts to improve fiscal adjustment and adapt monetary policy.
The IMF also commended Argentina’s recent efforts to increase social assistance programs. Minister Luis Caputo and his team are set to attend the Spring Assembly of the IMF and World Bank to continue negotiations on the program and potentially secure additional funds to support Argentina’s economic stability. While discussions on a new program are ongoing, it is too early to determine the modalities for future assistance. The IMF has stressed that meeting reserve accumulation and fiscal deficit goals is crucial for supporting measures that will lead to macroeconomic stability and sustainable growth in Argentina.
