IMF expected to delay action on Argentina on stats dispute until mid January
The IMF said Thursday that it was unlikely to take action on Argentina failure to supply accurate statistical data before January, if the country misses a deadline next Monday.
IMF spokesman Gerry Rice told reporters that IMF Managing Director Christine Lagarde would submit her report to the board on December 17 on the failure of Buenos Aires to provide accurate data on inflation and growth to the Fund as members are required.
Three months ago Lagarde warned that Argentina could be censured over the issue, after nearly two years of pressing the country to abide by IMF rules for providing accurate economic data.
“So they had the yellow card, and they have three months to avoid the red card,” she said in Washington in September.
Argentine President Cristina Fernandez subsequently hit back, saying her nation would not be subjected to threats of any kind, and dismissed the ‘soccer terminology’.
Rice said Lagarde will submit a report to the board on Monday, but said the board then needs to meet to review the report and decide a course of action.
“The date of that meeting is not yet set... I would not expect it to be this year,” he said.
Lagarde will be attending the Latin America regional meeting of finance ministers in Viña del Mar, Chile, on Friday but it is not known whether she will meet privately with Argentina Finance chief on the sidelines of the conference.
Ms Lagarde in the first of her two day visit said in Santiago de Chile that according to IMF estimates the country’s economy will grow 5.5% this year and over 5% in 2013, but above all underlined what she described as the ‘fantastic numbers” of the country’s economy.
“Chile’s numbers are fantastic; the envy of the whole world: inflation under control, low unemployment, low deficit and even lower debt”, however she admitted that Chileans are now “more interested in quality and fairness”.
Lagarde also warned about Chile’s current account deficit and recommended to be alert to global issues such as the European crisis, the US fiscal cliff and the volatility of commodities’ prices on which the Chilean economy depends.
The IMF chief met with Finance minister Felipe Larraín and Central bank governor Rodrigo Vergara.
Before arriving in Chile Ms Lagarde visited Colombia where she also praised the management of the economy and excellent macro economic stats.
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52 comments Feed
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Yeah, mid January, putting the post Christmas blues on one side for a while, just to watch Argentina get b*tch slapped on the world stage AGAIN!!
I, for one will be looking forward to that.
It always starts with folks voting in some 'nationalistic revolutionary', and always ends with corruption and shooting in the streets.
They made their bed. End of.
Whilst I agree the Argentines have the government that won the election and therefore represents the people, it is worth knowing that many people that voted for her did not get what they voted for. She has brought in restrictions and measures never even hinted at prior to the election. They were fed a pack of lies and are now disillusioned. CFKC is not at all popular now.
I don't agree that the majority of good Argentines are responsible for the erratic and bombastic behaviour of a mentally deteriorating President. They do, however, have the power to do something about it now.
I hope RG citizens know how big a deal this really is for them. They're basically being shunned from the world's financial system. No public company in EU/USA will be able to invest within the country and the ones that are there will probably be forced to leave.
The gov't is very dependent on WB and IDB loans they will not be able to approve or disburse if they lose the IMF membership.
I hope they realize what is happening unfortunately I don't think they do and there is no stopping this train.
mess
I really think we're overjudging their ability as a nation to see this rationally. These people are brainwashed in schools to think that KFC is some kind of accomplished lawyer who didn't steal a lot of money from them and is leading them to some promised socialist utopia, where they all drink malbec and drive argcars. Combine this with, their lack of moral structure with regards to private ownership makes it difficult to ever lend them money or invest in their country.
So why again are they in the G20?
Piece in Argentina starts at 22 minutes.
www.bbc.co.uk/iplayer/episode/b01p7df2/The_World_Tonight_13_12_2012/
For anyone outside the UK, you should load something like expatshield to be able to stream the iplayer.
A
and why not ?
she wont pay, unless you force her,
Piece in Argentina starts at 22 minutes.
www.bbc.co.uk/iplayer/episode/b01p7df2/The_World_Tonight_13_12_2012/
For anyone outside the UK, you should load something like expatshield to be able to stream the iplayer.
A
I wonder why Petrobras has decided to leave Argentina? Are they afraid of nationalization?
Hmm will there be any Int'l companies left?
Probably not
I guess its N Korea para todos
That's when all of this started to come to a head,
So the timing is about right and probably faster than CFK realized, Next Exec board meeting censure will begin with 2 6 month periods for you to cave.
If not bye bye
The USA is driving this and IMF will begin the process of censure/removal after everyone gets back from their Christmas vacations.
Please can you tell me how you found this nugget of information.Wikileaks or Fox News?
ElaineB
It good to know that you realise that all this matter is political.
And thought it was just neo-liberalism.
Article says:
”IMF expected to delay action on Argentina on stats dispute until mid January”
I say:
Where did MercoPress get that ”Mid January” info?
Not from the IMF or Mr. Rice:
”QUESTIONER: I would like to ask about Argentina. The deadline this Monday and I would like to know whether the IMF has received recently any information from the Argentine government and whether the board meeting will take place on Monday which is the deadline, because you said last briefing that there was no date yet for the board meeting.
MR. RICE: As our Executive Board said in September, the Managing Director is required to report to the board by December 17 on Argentina's response. There will be a report to the board on Monday, December 17. There will then need to be a board meeting. That board meeting will not be on December 17. In fact, the date of that board meeting is not yet set. But at a later date there will be a board meeting to discuss the report that is submitted on Monday, December 17, to clarify those things. Again, we don't have a date for you yet in terms of when the board would meet to discuss that report.
QUESTIONER: This year?
MR. RICE: I don't have a date, but I wouldn't expect it to be this year.
QUESTIONER: And the IMF has received nothing from the Argentine government so far on this topic?
MR. RICE: I don't have any details on the contents of the report that is going to be submitted, so I don't have much for you beyond what I'd said.
QUESTIONER: Could you elaborate a little bit about what the next steps could possibly be as far as the procedure goes?
MR. RICE: I wouldn't want to preempt that board discussion or any board decision so that I don't have anything further on that except to say as the Managing Director has said in the past, we stand ready to continue to cooperate with the authorities with regard to the issue of the official CPI and GDP data.
www.imf.org/external/np/tr/2012/tr121312.htm
Brainwash anybody?
BTW nothing gets done in DC from now until mid January everyone left this week for vacation.
Next Exec Board Meeting will start the Censure.
hahahahahahah, thats right they cant, ahahahahha why scold/chastise when the unofficial first stage sanctions have more effective. loan requests blocked all day every day! :)))
REDCARD FOR THE GLOBAL RETARD!!!
Uh, we don't need to borrow from the IMF. We are not a failed state that bleeds cash like the UK, Europe, or the USA. We have been in the green for 12 years... when was the last time your country was in the green even one year?
HAAHAHAHA
There is also IFC and ICSID attached to WB/IMF not in those and no Int'l country can invest. They can get insurance nor have legal recourse outside of the country.
There lies the rub,
It's not the loans it's everything else that goes along with IMF membership,
Try not to be so obtuse it makes you look foolish.
Again - and what has this got to do with this article?
GUESS WHERE ???????????
What a pathetic, despicable, horrific, uncivilized, bestial, savage, barbaric, place!!!!!!!!
why,,, do you think this is funny,
those poor parents must be devistated, and all you argies can do, is gloat.
Again to Nostrolldamus The 2nd nothing to do with the article
rense.com/general10/mass.htm
IMF Managing Director Christine Lagarde,
Just bankrupt her,
Remove her,
And appoint a competent person to run the county,
[no]
Well it was just a thought,
.
You know Elaine, you were gloating about a supposed shooting in Buenos Aires just yesterday. The difference is I am revolted by the above, you (and yankeeboy and the others here) celebrate any news that may indicate suffering in Argentina, so you can blast off at CFK.
You know what you are doing? You are doing transference. Deluding yourself that how YOU act is how others act... I posted that because I am pissed off about children getting killed. You thought otherwise because that is how YOU think when posting bad news about Argentina.
And that's that.
Is he really “entirely wrong”?......:
“35 ElaineB Dec 13th, 2012
There was a shoot-out in downtown Buenos Aires today.......”
en.mercopress.com/2012/12/13/panama-files-dispute-before-wto-against-argentina-s-trade-restrictions
And..................???
What a Turnip!
crap! your post had nothing to do with being pissed off about children getting killed.
Now read TTT's comments with all the caps and exclamation marks followed by a stream of abuse. How excited is he?
If you can't see the difference......
I can see the difference alright....
And it balances heavily in Tobias favor....
Can you explain if the incident he refers to is more abhorrent because you have friends there.If not why mention the fact.Its all a bit cheesy what you say.
What are we to do about it,ElaineB.
Perhaps not referring to I enlightening acts at anytime is one way.Shall we condemn all mention of such comments by any party.
And who are you exactly to make judgement on the sentiment of others through a computer screen?
That stream of abuse is exactly what a society that allows such heinous depravity on a daily basis without MOVING A FINGER to do something about it deserves.
multiple personalities
Actual briton the figure currently is 26 with 20 under 8 years old. We know this news of the deaths of 5 - 8 year olds brings joy to the like of a toby, for most it's a tragic event, especially for the parents. Even with all these “mass killsing” in the USA, the murders per capita in the USA and Argentina are near identical. At least when ARgentina use to track crime stats. However, with that being said, that news has nothing to do with this article. You claim to be intelligent toby, but why can you not focus and stay on point?
Manipulation of statistics of weapons of mass destruction is not wrong, and should not be punished right?
... bad Intelligence... HUH??
www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
Why don't you comment on the thread instead of trying to tell others what the subject of their post should be.
There isn't much contribution in repeating the fact that the report was submitted and will now go for further perusal,probably in January.
What happened to the red card remark.Did legarde get above herself,like a lot of females are doing,because a red card is instant and one can only appeal against its other sanctions.I know its a FIFA thing and has its authoritarian personality,but it was legarde who used it.
There are sooooo many things about Football a Woman doesn’t understand….
www.youtube.com/watch?v=PnYX090aufU&list=PLFB9DC1FEF7FA672C&index=3
www.youtube.com/watch?v=nOHmTxH31uY&list=PLFB9DC1FEF7FA672C&index=4
www.youtube.com/watch?v=wxvFex88GQc&list=PLFB9DC1FEF7FA672C&index=5
www.youtube.com/watch?v=PYe_6-ySoJM&list=PLFB9DC1FEF7FA672C&index=6
www.youtube.com/watch?v=ljVd2hOvRtQ&list=PLFB9DC1FEF7FA672C&index=7
www.youtube.com/watch?v=KxtrJdSDJ38&list=PLFB9DC1FEF7FA672C&index=8
www.youtube.com/watch?v=d_JEfkg7XPs&list=PLFB9DC1FEF7FA672C&index=10
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