Monday, December 3rd 2012 - 06:01 UTC

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.

Christine Lagarde will be visiting Colombia and Chile in the second week of December

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.
 

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1 Ayayay (#) Dec 03rd, 2012 - 06:40 am Report abuse
www.thesmallbiznest.com/wp/wp-content/uploads/2010/03/RedCard.jpg

;)
2 TipsyThink (#) Dec 03rd, 2012 - 09:29 am Report abuse
IMF !

Is not énoúgh the internet spying to learn reál statistics ?
3 Conqueror (#) Dec 03rd, 2012 - 11:02 am Report abuse
@2 Oooops. Must learn to read those Articles of Agreement!
4 reality check (#) Dec 03rd, 2012 - 11:24 am Report abuse
What happens if they do not meet the deadline, anhother extension I expect and when they do not meet that one, yet another extension and so on and so on!
5 Huntsman Extraordinaire (#) Dec 03rd, 2012 - 11:26 am Report abuse
Sign this petition and lets get the governments of the world actually putting this under the spot light and doing something about it!

epetitions.direct.gov.uk/petitions/42558
6 Shed-time (#) Dec 03rd, 2012 - 12:23 pm Report abuse
@4 I suspect when they do not meet the deadline they will 'resort to form' by blaming everyone else for them not meeting the deadline, calling everyone under the sun a type of vermin, and the braying masses led by international terrorist outfit, la campora will smash some YMF offices with the police nowhere to be seen.

They're not very innovative people really, kind of remarkably bland in their predictability. I guess this says a lot about their cognitive abilities.
7 Pirate Love (#) Dec 03rd, 2012 - 12:45 pm Report abuse
oh dear Argentina, another day another slapped wrist, and about to be widely exposed for cooking its books, the world will see how much of a lying DICTATORSHIP Argentina has become, slap them sanctions on their a55es, no more supper for them.
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? :)))
8 andy65 (#) Dec 03rd, 2012 - 01:12 pm Report abuse
Love to see Madame Christine Lagarde give the Botox Queen Kirchner a big flat slap in the mouth
Thank you.
9 Condorito (#) Dec 03rd, 2012 - 01:16 pm Report abuse
That photo is Richard Branson without beard.
10 Pirate Love (#) Dec 03rd, 2012 - 01:21 pm Report abuse
@9 spooky
11 surfer (#) Dec 03rd, 2012 - 02:34 pm Report abuse
INDEC - defend that, no deviation or repetition....
12 ptolemy (#) Dec 03rd, 2012 - 02:47 pm Report abuse
Little Argie goes to school Dec 17th and hands in his homework. Mrs. Rice says: “Little Argie you didn't do the last page of the assignment.” Oh,.. Mrs. Rice I didn't know I had to do that! No one told me! Can I turn it in tomorrow? “Ok Little Argie, make sure you turn it on time.”
Little Argie skips school the next day.
13 Shed-time (#) Dec 03rd, 2012 - 03:04 pm Report abuse
Little Argie turns up to his Nestoranity Madrassa without his homework, Mrs Schlaztleshtaffel-Heidelberg turns off the obligatory la campora maximo propaganda DVD and goose-steps up to him. 'Ver ist diene homewerke!!!', she says. 'I haf not been doink my Homework and it is your fault, YOU ARE EIN VULTURE!! YOU ARE EIN PIRATE'

hahahaah! hooooohohohohoh
14 Raven (#) Dec 03rd, 2012 - 03:18 pm Report abuse
I wonder how they wriggle out of this one? They can't tell the truth about the figures, that's a decadent luxury that they can't afford, even if they could manipulate the lie into BEING the truth.

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...
15 Condorito (#) Dec 03rd, 2012 - 03:30 pm Report abuse
13 LOL
16 Brit Bob (#) Dec 03rd, 2012 - 03:37 pm Report abuse
INDEC Argentine inflation = 9%
Real Argentine inflation = 25%

Plus penalties for anyone publishing statistics that are contrary to INDEC's =

RED CARD!
17 Simon68 (#) Dec 03rd, 2012 - 03:53 pm Report abuse
14 Raven (#)
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!!!!!
18 Nostrolldamus The 2nd (#) Dec 03rd, 2012 - 04:07 pm Report abuse
I wonder what the Argentina-IMF war has to do with the Falklands...

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.
19 ElaineB (#) Dec 03rd, 2012 - 04:35 pm Report abuse
@18 Nope. You are talking only from your view-point again.

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.
20 agent999 (#) Dec 03rd, 2012 - 04:38 pm Report abuse
@18
Yet whenever Argentina has the opportunity on the world stage they can berate the British with Argentina's own contorted version of events!.
21 Captain Poppy (#) Dec 03rd, 2012 - 05:29 pm Report abuse
Elaine that is the problem with these blind sided trolls, they cannot understand that most anti kirchnerites do not blanketly hate Argentina nor the Argentine's. They are too blinded by their socialist march to see the asslips is lauhing at the dumb schlepps in argentina that believe her and nestor as a way forward. Historically, have they ever been a serious nation?
22 Leiard (#) Dec 03rd, 2012 - 05:31 pm Report abuse
@20
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.
23 ElaineB (#) Dec 03rd, 2012 - 05:52 pm Report abuse
@23 The curse of Nationalism. They don't even realise they have been inculcated with the notion that to criticise anything remotely Argentine is to criticise EVERYTHING Argentine. It is not. Governments should be criticised and it is NOT a crime to do so.

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.
24 Ahab (#) Dec 03rd, 2012 - 06:29 pm Report abuse
So in a nutshell, if they continue to lie, it will be a red card.

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?
25 Ayayay (#) Dec 03rd, 2012 - 06:29 pm Report abuse
@13 Lol
26 Conqueror (#) Dec 03rd, 2012 - 06:49 pm Report abuse
@18 You misunderstand US. At first, we hated you because you invaded and occupied our territory. Then, despite the same UN that you constantly appeal to, you forced us to send a Task Force to show you how pitiful you are. Then you made it worse. You killed 255 British servicemen, and 3 Falkland Islanders through your cowardice. But we kept an eye on you. You soon displayed your duplicity and mendacity. As time went by, we grew to hate you for your belligerence, corruption, criminality, duplicity, genocide, intransigence, mendacity, stupidity, sub-humanity, thievery, unscrupulousness, xenophobia and just because you're argies. And you're queer. The best day in the entire history of the world will be the day that there are no more argies. (If you're an Argentine, don't be concerned. We like to protect minorities. But keep your heads down. Wearing a Falklands flag, back and front, as a poncho might be an idea.). There are no guarantees. The word “malvinas” is verboten. Get the picture?
@22 Is there any chance that someone could provide Nostril with a 7.62mm solution?
27 andy65 (#) Dec 03rd, 2012 - 07:14 pm Report abuse
Nostrolldamus The 2nd (#) Why is your counrty in more disputes with several world organisations than any other country-do they all have it wrong???

ARGENTINA ALWAYS THE VICTIM
28 Brit Bob (#) Dec 03rd, 2012 - 07:24 pm Report abuse
@24

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.
29 briton (#) Dec 03rd, 2012 - 07:32 pm Report abuse
stop reminding them, and do something,
ya as bad as the UN .
30 joe_89 (#) Dec 03rd, 2012 - 07:44 pm
Comment removed by the editor.
31 Ahab (#) Dec 03rd, 2012 - 07:45 pm Report abuse
@ 28 Brit Bob

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.
32 Pirat-Hunter (#) Dec 03rd, 2012 - 08:14 pm Report abuse
And we Argentines want accountability and the names of the corrupts who got money on behalf of Argentina plus the goods they bought with Argentina's loans. Without the proves IMF should expect nothing from Argentina.
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/
33 Raven (#) Dec 03rd, 2012 - 08:39 pm Report abuse
Ta very muchly PH, for proving my last sentence entirely and without contradiction, correct.
34 briton (#) Dec 03rd, 2012 - 08:54 pm Report abuse
the names of the corrupts who got money on behalf of Argentina

CFK and her goverment.
35 Xect (#) Dec 03rd, 2012 - 09:02 pm Report abuse
I don't dislike Argentinian's but I do dislike CFK and her henchmen for the lying, deceitful behavior and bullying of a small population trying to live in peace. Make an enemy of the people of the Falkland Island's and you make an enemy of the British. You don't suppose some of the recent events had nothing to do with the British do you?

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.
36 Captain Poppy (#) Dec 03rd, 2012 - 09:10 pm Report abuse
You can tell IMF all you want to take a hike.......lets see if cuntina and argentina thinks that way. China and Brazil are no longer arheintina's savior as they have new struggles of their own.
37 Britworker (#) Dec 03rd, 2012 - 10:33 pm Report abuse
You go Ms Lagarde, give them hell!
38 Nostrolldamus The 2nd (#) Dec 03rd, 2012 - 11:52 pm Report abuse
Oohhh.... what they are gonna do... cut all those billions in loans they lent us last 10 years?

hahahahahaha
39 KFC de Pollo (#) Dec 04th, 2012 - 01:50 am Report abuse
@38 you are an idiot if you think this means nothing. It will ruin Argentina for years to come!
40 Nostrolldamus The 2nd (#) Dec 04th, 2012 - 02:03 am Report abuse
@39

If you say so... The British and their opium dreams. Now we know why you can't leave Afghanistan.
41 Captain Poppy (#) Dec 04th, 2012 - 02:32 am Report abuse
#38 remember those words
42 andy65 (#) Dec 04th, 2012 - 03:14 am Report abuse
@KFC de Pollo, Argentina is almost ruined now -what was it almost 1 million on the street demonstrating at the thought of SS Hiltler Crstina trying to wangle a 3rd term, nice to see a country not devivded the old botox queen is fininshed.
43 Nostrolldamus The 2nd (#) Dec 04th, 2012 - 03:29 am Report abuse
Ruined?????? hahahahahahahahah.

Mendoza is booming, though some signs of slow down are beginning to emerge.
44 Troy Tempest (#) Dec 04th, 2012 - 04:07 am Report abuse
@43 Nozzy

“...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.
45 Nostrolldamus The 2nd (#) Dec 04th, 2012 - 04:15 am Report abuse
@44

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.
46 Ayayay (#) Dec 04th, 2012 - 08:32 am Report abuse
Richard Branson's fairly attractive, so it's all good.
47 jkw (#) Dec 04th, 2012 - 11:56 am Report abuse
@32 pirate........It's OK....this fight has been going on since the turn of the 16th Century....South America was, and still is, viewed by various European nations and consortiums of those nations and the banking and financial houses which are worldwide today as a neocolonial chicken ripe for he plucking.

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.
48 andy65 (#) Dec 04th, 2012 - 12:01 pm Report abuse
“Mendoza is booming,”

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
49 Leiard (#) Dec 04th, 2012 - 12:17 pm Report abuse
@jkw
“The IMF and the WorldBank are the bagmen for neocolonialist ambitions”

No one is forcing Argentina to go to these organisations seeking loans !
50 jkw (#) Dec 04th, 2012 - 12:21 pm Report abuse
@48 andy....the IMF is going in because it can......it has no interest in what most of us would call symmetry of economic information. In fact, it's model is to provide lopsided information in favor of its global corporate partners in order to create inextinquishable debt where it might....Where the IMF goes, theft of national resources and increased impoverishment of a nation's people is the result....And the IMF questioning Argentina's statistics? That is the darkest of dark humor...
51 andy65 (#) Dec 04th, 2012 - 12:37 pm Report abuse
As I said ARGENTINA ALWAYS THE VICTIM
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
52 Captain Poppy (#) Dec 04th, 2012 - 12:38 pm Report abuse
Pass the kool aid.
53 Leiard (#) Dec 04th, 2012 - 12:46 pm Report abuse
@50 jkw
Do you actually believe INDEC's figures ?
54 briton (#) Dec 04th, 2012 - 02:07 pm Report abuse
British military the future.

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.
.
55 Shed-time (#) Dec 04th, 2012 - 02:08 pm Report abuse
@53 the only people who believe INDEC's figures are currently wearing brown shirts, saluting statues of maximo, and smashing up ship-based tourism offices.
56 Condorito (#) Dec 04th, 2012 - 02:33 pm Report abuse
@jkw
“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”.
57 agent999 (#) Dec 04th, 2012 - 04:19 pm Report abuse
It is always the same, they are never responsible for their own shortcomings, its the British, the US, the IMF, the World Bank, and everyone else in the world.

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.
58 briton (#) Dec 04th, 2012 - 07:00 pm Report abuse
And they have a massive ball and chain around there neck,
Created by and implemented by their own government, and CFK has the key,

Self inflicted and self isolating.
And selfish.

.
59 andy65 (#) Dec 04th, 2012 - 07:10 pm Report abuse
ARGENTINA ALWAYS THE VICTIM LOL
60 briton (#) Dec 04th, 2012 - 08:07 pm Report abuse
And never the bride lol.
61 ProRG_American (#) Dec 04th, 2012 - 09:32 pm Report abuse
Just hold your breath and breath deeper Mr. IMF.
62 Captain Poppy (#) Dec 04th, 2012 - 09:55 pm Report abuse
What a nation of victims.......only they don't know it and just how bad asslips “the cunt” kirchner kirchner is victimizing them.
63 slattzzz (#) Dec 04th, 2012 - 10:07 pm Report abuse
@18 No Nostrilanus we don't hate you for 1982, that's in the past, but for what you are trying to do to the Falkland Islands NOW!!!!!!!!!!! AGAIN!!!!!!!
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
64 jkw (#) Dec 07th, 2012 - 03:03 am Report abuse
#56 Condorito....Thank you for pointing out Chile. Excellent example of a nation NOT letting itself be exploited------The other mining companies (Australian???) operating in Chile understand well the National model....
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]
65 Condorito (#) Dec 07th, 2012 - 12:19 pm Report abuse
jkw
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.

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