Tag: Nicolas EyzaguirreNicolas Eyzaguirre
IMF warned inflation is threatening South America but also admitted countries had a dilemma since increasing interest rates could further worsen the appreciation of local currencies vis-à-vis the US dollar.
The International Monetary Fund confirmed Argentina’s request for technical assistance on the elaboration of a Consumer Price Index (CPI). In a statement release by Nicolas Eyzaguirre, Director of the Western Hemisphere Department added “we are currently in contact with the authorities on planning the missions”.
China is resisting pressure to become a locomotive to pull the floundering US economy out of its hole, notably by stubbornly pegging its Yuan to the dollar, a senior IMF official said on Tuesday.
With many Latin American and Caribbean economies recovering faster than anticipated, the challenge for policymakers is ensuring a moderation in domestic demand to avoid overheating, the IMF said.
Given the high levels of global liquidity, Argentina should succeed in restructuring its 20 billion US dollars in defaulted bonds according to a senior official from the International Monetary Fund.
The recovery in Latin America and the Caribbean is advancing faster than anticipated but at different speeds across countries, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook-Western Hemisphere report, which was launched Tuesday in Montevideo, Uruguay.
Latin American economies as a whole are recovering nicely from the global economic downturn but “cheap and abundant external finances raise the risk of a boom-bust cycle”, said Nicolas Eyzaguirre, IMF Western Hemisphere Department Director.