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IMF technical support for Argentina Statistics Office will continue until next April

Thursday, December 16th 2010 - 23:52 UTC
Full article 9 comments
Caroline Atkinson, IMF spokesperson made the announcement in Washington Caroline Atkinson, IMF spokesperson made the announcement in Washington

International Monetary Fund (IMF) will continue collaborating with Argentina national statistics bureau, Indec, in order to create “a price index with stronger credibility,” the spokeswoman of the organization, Caroline Atkinson, assured in Washington.

From Buenos Aires it was reported that the IMF mission sent to help with a new index has concluded “its current technical mission”, which has been requested by the government.

Ms Atkinson said that the IMF decided to continue collaborating with the Argentine government until next April and the technical mission is expected to return in coming weeks.

Meanwhile Indec announced on Wednesday November’s inflation which stood at 0.7%, driven by clothing and food prices but slowing from the previous month.

Wednesday's data release brings official 12-month inflation to 11%, but most private forecasts expect inflation to end the year at between 25% and 30%. Private economic analysts claim the government continues to underreport real inflation.

”To sum up, 2010 will close with inflation of 27%, exceeding the level recorded in 2007 and 2008 by several points and making the biggest rise since (early 2002)” the Buenos Aires-based consulting firm Ecolatina wrote in a report.

Indec said heavily-weighted food and drinks prices rose 0.9% last month while clothing prices climbed 1.2%.

Consumer groups, opposition politicians and renegade statistics workers accuse Argentina's government of under-reporting inflation for the past four years for political gain as well as to save on inflation-linked bond payments.

Some local media had speculated that November's figure might come in a little higher than previous months after the government sought help from the IMF to create a new nationwide consumer price index.

Argentina's consumer price marked 0.8% in October and in November 2009.
 

Categories: Economy, Argentina.

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  • xbarilox

    “in order to create “a price index with stronger credibility,”? In order to create a price index with credibility!

    Dec 17th, 2010 - 01:19 am 0
  • Redhoyt

    ” ... renegade statistics workers ....

    Wow, is that some kind of underground movement ?

    Dec 17th, 2010 - 01:54 am 0
  • NicoDin

    “Private economic analysts claim the government continues to underreport real inflation.”
    “Consumer groups, opposition politicians and renegade statistics workers accuse Argentina's government of under-reporting inflation for the past four years for political gain as well as to save on inflation-linked bond payments.”

    This is a copy paste of La Nación Mixtured with Clarin.

    They don’t like the figures of INDEC, they don’t like CEPAL and now they don’t like IMF.

    Why we don’t let Clarin, La Nacion to put inflation to 500% and stop talking about this for lets say 15 years?

    Seems they are desperate as Clarin had a reverse in the justice who gives the reason to the govt.

    Haha nice to see liars like this falling a lesson to be learn in the media business.

    Dec 17th, 2010 - 05:49 am 0
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