MercoPress. South Atlantic News Agency

IMF welcomes Argentina's implementation of actions on CPI and GDP indexes

Argentina must still implement actions previously specified for end-September 2014 and end-February 2015,

The International Monetary Fund (FMI) welcomed on Friday “all the specified actions,” taken by Argentine President Cristina Fernández administration, to improve Consumer prices and Gross Domestic Product indexes under INDEC National Statistics Bureau orbit.

 Through an official communiqué, the entity headed by Christine Lagarde manifested its satisfaction after the steps taken by the Argentine Government.

“The Executive Board recognized the implementation of all the specified actions it had called for at this juncture and the initial steps taken by the Argentine authorities to remedy the inaccurate provision of data”.

However, it also remarked that: “In line with the Board decision adopted in December 2013, the Argentine authorities must implement actions previously specified for end-September 2014 and end-February 2015”.

The document concluded saying it welcomes the ongoing discussions with the Argentine authorities, and “stands ready to continue this dialogue, and, more generally, to further strengthen relations with Argentina”.

Follows the complete release:

”The Executive Board of the International Monetary Fund (IMF) met on June 6, 2014 to consider the Managing Director’s report on Argentina’s progress in implementing an initial set of specified actions called for by the Executive Board to address the quality of the official data reported to the Fund for the Consumer Price Index (CPI) and Gross Domestic Product (GDP).

“The Executive Board recognized the implementation of all the specified actions it had called for at this juncture and the initial steps taken by the Argentine authorities to remedy the inaccurate provision of data. In line with the Board decision adopted in December 2013, the Argentine authorities must implement actions previously specified for end-September 2014 and end-February 2015. The Managing Director will next report to the Executive Board on the status of Argentina’s implementation of the specified actions by November 14, 2014. At that time, the Executive Board will again review this issue in line with IMF procedures.

”The Fund welcomes the ongoing discussions with the Argentine authorities to improve the quality of Argentina’s official CPI and GDP data and stands ready to continue this dialogue, and, more generally, to further strengthen relations with Argentina”.