IMF reminds Argentina it must deliver a report on statistics advances by Dec 17
The IMF ratified last week that by December 17 Argentina must reply to Managing Director Christine Lagarde on the latest advances referred to the country’s statistics both on inflation and GDP growth.
Gerry Rice, head of IMF Public Relations was in charge of making the announcement following on a question from an Argentine journalist who asked if the statistics controversy with Argentina was to be postponed.
“Could the December 17 board on Argentina's statistics be postponed to a later date as reported today?” asked Silvia Pisani from La Nacion.
On the question about Argentina's statistics and the board discussion, “as we said after the meeting in September, that the Managing Director is required to report to the Board by December 17 this year on Argentina's response to the Fund's concerns. We do not however yet have a specific date for the Board meeting at this stage”, replied Gerry Rice.
Last September 17 the IMF Executive Board met to consider Ms Lagarde’s report on Argentina’s progress in implementing the remedial measures to address the quality of the official data reported to the Fund for the Consumer Price Index for Greater Buenos Aires (CPI-GBA) and Gross Domestic Product (GDP).
At the time the Executive Board said “it regretted the lack of sufficient progress in implementing the remedial measures since its February first, 2012 meeting and expressed to the authorities its concern that Argentina has not brought itself into compliance with its obligations under the IMF Articles of Agreement by implementing the said measures”, and called on Argentina to implement the measures without delay.
In related news Ms Lagarde will be in Latin America visiting Colombia and Chile in the second week of December. The head of the IMF will be on Bogotá on December 10 to 11 where she will hold discussions with the authorities; there will be a press conference at the conclusion of the visit on Tuesday, December 11. Then in Chile, the Managing Director will first travel to Santiago to meet with the authorities on December 13.
On the same day, Ms Lagarde will take part in a student event at the Universidad de Chile also in Santiago and later in the days travels to Viña del Mar to participate in the Finance Minister's meeting of the Community of Latin American and Caribbean States, CELAC meeting, on December 14.
Suggested Stories
-
Jun 19th 2013
India-Argentina pledge to improve trade; Timerman thanks Delhi support on Malvinas dispute
-
Jun 20th 2013
Argentina’s economy recovering in May and trade surplus above estimate
-
Jun 20th 2013
Swiss lawmakers defy Washington reject deal to lift banking secrecy and expose US tax dodgers
-
Jun 19th 2013
Gibraltar invites Spanish treasury inspectors to dispel claims of tax evasion money
65 comments Feed
Note: Comments do not reflect MercoPress’ opinions. They are the personal view of our users. We wish to keep this as open and unregulated as possible. However, rude or foul language, discriminative comments (based on ethnicity, religion, gender, nationality, sexual orientation or the sort), spamming or any other offensive or inappropriate behaviour will not be tolerated. Please report any inadequate posts to the editor. Comments must be in English. Thank you.
;)
Is not énoúgh the internet spying to learn reál statistics ?
epetitions.direct.gov.uk/petitions/42558
They're not very innovative people really, kind of remarkably bland in their predictability. I guess this says a lot about their cognitive abilities.
How Ironic, I thought Crustina eagerly wanted international awareness yet it seems only on the issues of her choosing, :))) Red Card!! you are out!
Good Job Crustina, sorry i meant INDEC....Dismantling Argentina One day at a time, Happy Christmas or will it? :)))
Thank you.
Little Argie skips school the next day.
hahahaah! hooooohohohohoh
I expect the second recourse of action upon looking at the inevitable quandry into which they have put themselves in , will be to scream the usual epithetes about how everyone is against Argentina, that the IMF supports crooked vulture funds, and that the world can whistle for the money it is owed.
Oh what a tangled web they weave...
Real Argentine inflation = 25%
Plus penalties for anyone publishing statistics that are contrary to INDEC's =
RED CARD!
Dec 03rd, 2012 - 03:18 pm
CFK will fire the drunk in charge of INDEC and say that SHE was cooking the books and the poor Argentine government was taken in just like therest of the world!!!!!
Whatever happens it won't be CFK's fault!!!!!
But right, the British keep insisting that they only hate Argentina due to the Falklands.
The Brits think that argies just swallow their contored version of history, like the rest of the world. I think that's the other reason they don't like us too much.
I despise CFKC, the Argentine government and the Kirchner oligarchy. Only ONE of CFKC's policies is to try to bully The Falkland Islanders in a blatant attempt of manipulating the less intelligent Argentines to support her - I know you do not support this policy.
I have a great affection for my friends in Argentina and do not hate them or Argentina.
And, once again, this is an English language discussion board. The news items are varied and free for ANYONE to comment on. It is not a difficult concept.
Yet whenever Argentina has the opportunity on the world stage they can berate the British with Argentina's own contorted version of events!.
You are wasting your time with Nostrolldamus The 2nd, he is no different to all his previous incarnations, he has no intention of ever having any meaningful debate with anyone posting here.
There was an interesting article in the Saturday New York Times (I happened to be there on Saturday but I am sure it is online) about the cosy relationship Nestor had with Clarin. The owner and Nestor had many a jovial dinner date together. It is worth a read and shows just how bonkers CFKC has become since taking power and not having the restraining hand of Nestor. Whilst I don't agree with his 'model', he was far more moderate.
Can anyone tell me what will happen if they actually tell the truth. Aren't some of the bonds they are paying interest on inflation related?
If it is admitted that they have been cooking the inflation figures for years, will anyone have any recourse to sue them for the money they should have been paying?
@22 Is there any chance that someone could provide Nostril with a 7.62mm solution?
ARGENTINA ALWAYS THE VICTIM
CFK and the Comedy club are likely to continue telling lies about Argy inflation and growth.
My guess is that they can't just tell the truth that would be like asking them to admit that Argentina's claim to the Falklands is fabricated.
ya as bad as the UN .
Very true, plus telling the truth and showing the public they have been duped for years would be the end of the government.
If they get the red card, its the evil IMF enforcing financial colonialism.
If they default, it will be the evil US courts with judicial colonialism.
When the people of the Falklands have their referendum, it will be the evil British and their standard colonialism.
I didn't know you could win every argument by putting “colonialism” in front of it.
And below you can all find the link to the reasons for me to tell IMF to take a hike.
www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
CFK and her goverment.
The longer she is in power the more punishment Argentina will suffer from Western powers but the biggest punishment of all is carried out by CFK against her own country with her actions single handedly destroying Argentina from the inside and outside.
I'd hope she is removed at the earliest opportunity and Argentina could have friendly and civil relations with the people of the Falkland Island's and the western world as that is the only path to prosperity for Argentina.
I've met many Argentine's especially during my military career where they would come to receive training from the Royal Navy including one who lives in my street and never had a problem with any of them, in fact I've enjoyed their company.
I also don't mind el Think or Tobias on here and completely understand them getting involved in tit-for-tat especially given the amount of westerners who seem to enjoy their countries misfortune.
hahahahahaha
If you say so... The British and their opium dreams. Now we know why you can't leave Afghanistan.
Mendoza is booming, though some signs of slow down are beginning to emerge.
“...some signs of slow down are beginning to emerge”
Yes, soon your parents will have you leave their home (and perhaps Mendoza) to find a real job in the collapsing, I mean' isolated' economy.
No my tendentious anglo-saxon, it's called OBJECTIVITY. Something your culture has absolutely not the slightest jot/iota/smidgen clue about.
I knew you anglos would try to use my words against me, but I laid the facts out there anyway.
Mendoza has grown for 12 years and counting (no recession in 2009 with the massive wine boom), so for you to make hay of a slowdown when you come from a failed society that has for 6 years lived in recession and austerity (2007-2013), is the source of risible and wry divertissement.
Today the fight changes its clothes, changes its mistresses, changes its name. And embraces a religion of submission. What it can't change is its odor.
The IMF and the WorldBank are the bagmen for neocolonialist ambitions, which today hide behind those banking concerns clothed in economic advancement, i.e., extraction and exploitation of natural resources at the expense of the people and the environment with inextinguishable loans and instant wealth for a few corrupt enough to sell out their own people, and jackals for those who don't go along. Stiglitz knew that (your posted link)....That is the reason Larry Summers along with Wall Street and Washington destroyed him. Noble Prize notwithstanding.
Argentina can fight all she wants. But she most likely will not win this battle. She has too much natural resource and insufficient military strength to protect herself from the impress of the global corporations frontloading the game with the IMF and the WorldBank, with enough nations like Ghana under their thumbs to do their bidding. There is hope. Bolivia is joining And Pres. Morales is no weakling.
The fight cannot be won in a day or a year or even a century. But it will be won. Because losing is the sole and dystopian option in a world of 7+billions and growing.
The option is stark. By 2100, either a new dark ages will be the predatory capitalist's reward, with an Islamic Europe and Asia, OR, South America, Central America, Mexico and the US will be together in a socially mature, mutually rewarding capitalist model without the IMF or the WorldBank and its predatory capitalists draining the middle class and body politic of the Americas.
Are you taking the piss??? your corupt governmant led by SS Hitler Crstina have been saying the same about your economy for years but thats why The IMF are going in because no one belives you,how does it feel when NONE Argentines know the true rate of your inflation compared to Argentines LOL what a sorry state,but as I always say
ARGENTINA ALWAYS THE VICTIM
“The IMF and the WorldBank are the bagmen for neocolonialist ambitions”
No one is forcing Argentina to go to these organisations seeking loans !
dealing with more cases of complaint through various organisations than any other country,I feel sorry for the people I would love to see nothing more than Kirchners ass kicked from one side of SA to another
Do you actually believe INDEC's figures ?
Thought this may interest you.
pinterest.com/navylookout/
HMS Victorious going on patrol.
twitter.com/GeorgeBlakeman/status/275871031162437632/photo/1
British drones may strike pirate boats
www.telegraph.co.uk/news/uknews/defence/9720714/British-drones-may-strike-pirate-boats.html
Peace people.
.
“i.e., extraction and exploitation of natural resources at the expense of the people and the environment ”
Oh really. Has it never occurred to your paranoid mind that we have been taking metal out of the ground since the bronze age and if we didn’t take metal out of the ground then we would still be in the stone age, literally. It is really that simple.
And if you don’t think it benefits the people, then visit a mining town in Chile where miners with no tertiary education receive bonuses of US30k on top of generous salaries, pensions, and family health plans - go tell them how they have submitted to the “IMF bagmen”.
Argentina have in theory been advancing for over 150 years but have still not got there yet, they have a massive landmass with huge natural resources.
Created by and implemented by their own government, and CFK has the key,
Self inflicted and self isolating.
And selfish.
.
As for Sussie/Pro another one living off the US talking about rgenweeners problems and doing fook all about it, FFS sussie pay your taxes in rgenweener and help out instead of gobbing off
A snippet from Wikipedia on CODELCO----
********
CODELCO (Corporación Nacional del Cobre de Chile or, in English, the National Copper Corporation of Chile) is the Chilean state owned copper mining company. Formed in 1976 from the foreign owned copper companies that were nationalised in 1971.[1]
The headquarters are in Santiago and the seven-man board of directors is appointed by the President of the Republic. It has the Minister of Mining as its president and six other members including the Minister of Finance and one representative each from the Copper Workers Federation and the National Association of Copper Supervisors.[1]
It is currently the largest copper producing company in the world and produced 1.66 million tonnes of the metal in 2007, 11% of the world total. It owns the world's largest known copper reserves and resources. At the end of 2007 it had a total of reserves and resources of 118 million tonnes of copper in its mining plan, sufficient to ensure more than 70 years of operations at current production levels. It also has additional identified resources of 208 million tonnes of copper, though one cannot say how much of this may prove economic.[1]
You are right that Chile is not letting itself be exploited, but this is not because of Codelco, although Codelco is part of the solution. If we only had codelco we would be in problems.
Codelco is very inefficient and unproductive compared to the private mines. The private mines drive the best practices and produce a constant stream of skilled labour that codelco can recruit from.
Every single mine in Chile was opened with private capital (that includes codelco). If it wasn’t for private capital looking for returns there would be no codelco and no mining industry in Chile.
A country needs to manage foreign investment properly to avoid exploitation. If you shut it out, you don’t develop. It must be encouraged but with mutually beneficial rules applied. In parallel to good management, strong, non corrupt institutions are essential – in Chile with have these. In many South American and African countries it is the weak governance and corruption that allows the pillaging of raw materials.
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!