Nicolas Eyzaguirre, the IMF director for Latin America, stated that Argentina must apply “major measures” to improve its method of measuring the inflation.
“We are expecting strong measures to be applied in order to return to the statistics Argentina had in the past, and we are in the middle of this process” Eyzaguirre told the press during a conference in Washington.
Meanwhile, Economy Minister Amando Boudou harshly criticized the report given by the IMF in Washington, where the annual encounter of the fund is being held.
“The bureaucracy of the Fund is watching another movie. They are playing rich kids games in a world that need faster solutions” Boudou assured. “Ms Lagarde should concentrate on the much delayed Fund’s promised reforms”.
Eyzaguirre affirmed that “in order to make a correct analysis, we must know what’s going on. If we don’t know the reality, we can’t anticipate problems”.
“Looking to the world and pinpointing Argentine stats is like the captain of the Titanic going after the violin of the orchestra; there are far more important things to address and not let political prejudice condition operational views”, insisted Boudou addressing the Council of the Americas in Washington.
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I would have thought the IMF only have a valid reason to demand this if Argentina tried to borrow money through the IMF.Sep 26th, 2011 - 08:42 pm 0
As this is highly unlikely, given the statements coming out of Argentina, let the country have the 'dual monetary understanding'.
It keeps the politicians happy to have a low 'official' position,
and it keeps industry and the unions happy to have the REAL position constantly available for industrial negotiations, etc.
And if - heaven forbid - the country HAS to go to the IMF, there is a long monitary history of the REAL position available, on which to base the loan/repayment conditions.