MercoPress. South Atlantic News Agency
IMF forecasts higher growth for Argentina this year, but reliability of official stats remains controversial
Argentina’s growth has recovered because of an abundant crop but economic activity continues to be contained because of the exchange rate and other administrative controls, according to the IMF latest World Economic Outlook (WHE), Latam and Caribbean chapter released on Tuesday. The IMF statement refers to Argentina’s export duties and the so called ‘dollar clamp’ which bans even saving in US dollars. Read full article
Comments
Disclaimer & comment rulesHow is it possible to make a prediction based on unreliable stats?
Oct 09th, 2013 - 08:01 am - Link - Report abuse 0That last paragraph and sentence:
Oct 09th, 2013 - 09:25 am - Link - Report abuse 0“it uses different sources of information and alternative data which are indicating real economic growth, but significantly lower than the official forecasts particularly since 2008 and similarly considerably higher inflation rates since 2007.”
Will Argentina fine them?
@ 2 Suck it and see.
Oct 09th, 2013 - 02:39 pm - Link - Report abuse 0IMF is simply awful at forecasting. The Arg economy is on watch list at WB and IDB because of their horrible projections.
Oct 09th, 2013 - 02:53 pm - Link - Report abuse 0CFK spent a lot, A LOT of reserves pumping up the economy this year.
They don't have much left
and I don't see any way for them to build up any more
Anyone savings in pesos is a fool
@ 4 Are you paying or not, USA?
Oct 09th, 2013 - 02:58 pm - Link - Report abuse 04. Are you worried about your massive holding of US Treasury Bills.
Oct 09th, 2013 - 03:23 pm - Link - Report abuse 0Bahahahaha
retard
China and Japan are worried, yes they are.
Oct 09th, 2013 - 03:36 pm - Link - Report abuse 0http://www.reuters.com/article/2013/10/08/us-usa-fiscal-creditors-idUSBRE9970DQ20131008
So? And your point is what exactly?
Oct 09th, 2013 - 03:58 pm - Link - Report abuse 08 yankeeboy
Oct 09th, 2013 - 04:25 pm - Link - Report abuse 0His “point” is on the top of his head and doesn't leave much room for his brain.
At least he has that in common with TMBOA, however SHE has all his money, but he doesn't KNOW IT yet.
@1
Oct 09th, 2013 - 09:52 pm - Link - Report abuse 0Unrelenting optimism? Head in the sand? They still use abacusses (but not very well).
Qu'ils mangent de la brioche !!!
Oct 10th, 2013 - 12:27 am - Link - Report abuse 0The unstoppable rising of the price of bread is going to cause havoc in October elections....
http://www.urgente24.com/219595-el-pan-amenaza-con-arruinar-la-ultima-esperanza-oficial
11. Is this 18th century France?
Oct 10th, 2013 - 01:04 am - Link - Report abuse 0I heard there weren't any tomatoes either.
Gads what a nightmare.
Wasn't the IMF going to censure Argentina, or something to that effect, for innacurate statistics?
Oct 10th, 2013 - 03:19 am - Link - Report abuse 0When is that supposed to happen?
@12 “Is this 18th century France?”
Oct 10th, 2013 - 03:26 am - Link - Report abuse 0Hopefully it is, since it means revolution is coming. I don't think it is though.
@13 The IMF already censured Argentina. They gave us until November to change the statistics, but they'll probably give us more time since we have elections this month and the new statistics aren't going to be done in time since they won't start working on them until the elections are over. It looks the Ks will make a new national IPC which will be still be ridiculously fudged, but not as much, and hope that the IMF buys it. But the statistics will be a big lie at least until 2015, and even then the government will wait until inflation is low before fixing the statistics.
So the IMF still hasn't done anything punitive to Argentina regarding their INDEC statistics.
Oct 10th, 2013 - 12:00 pm - Link - Report abuse 0Argentina is ripping off the people they borrowed from and the IMF has taken no concrete action on that problem, just words and warnings and deadlines.
The IMF is pretty useless.
A baguette is ARG $22 pesos, which is 3X at the gov't exchange rate more than I paid yesterday in a large US city.
Oct 10th, 2013 - 12:23 pm - Link - Report abuse 0Which means Rgs pay 8x (?) more for break comparatively than the Avg American?
Gads what a place.
16) yankeeboy
Oct 10th, 2013 - 12:36 pm - Link - Report abuse 0-I don’t do the shopping myself but I believe the kilogram of bread is at $22, not a single baguette- Bread is a very important component of Argentine diet even more so than meat I would say, especially in poor families they eat a lot of bread. As there is a variety of meat purchases and prices in Argentine butcher shops you have far more options to choose from. But bread is a different matter.
The stock of wheat is at an all time low, and that doesn’t help either
17. Its still remarkably higher than what we pay comparatively. I just looked at discovirtual at Coke for $8.5/lt while we pay $0.73 at Costco. Huge huge difference.
Oct 10th, 2013 - 01:19 pm - Link - Report abuse 0There are so many glaring examples of how out of whack the currency is and I find it fascinating.
18) We are all aware of the huge disparities of prices with the rest of the world … At least those of us who want to see…
Oct 10th, 2013 - 02:03 pm - Link - Report abuse 0The lt of milk is reaching $10
Sooner or later the whole thing is coming down like a house of cards and the US$ will go up well over 15 AR$... We are governed by criminals and imbeciles. Over 10 years there was never a real serious plan to tackle inflation, and these guy are now printing and printing more Pesos to finance the increasing expenditure, whilst not admitting the devaluation. Reserves are draining ever faster. They have taken from us a lot of options of protecting our savings from inflation and devaluation. I’m thinking in gold. The sooner they let it go will be the best. I hope they don’t dragged this on and on and let the bubble increase to 2015
I've been guessing somewhere between 18-20/1 and then inflation will be over 100% next year.
Oct 10th, 2013 - 03:31 pm - Link - Report abuse 0What a mess and there is no way to clean it up with out another crash and change in gov't.
20) Oh you mean the -blue- dollar may very well be reaching that rate or even more even this year after elections. The problem is if the official dollar if they are keeping it tied till 2015 elections. How long can they keep on managing to fake the whole economy with controls and making loopholes that don’t solve the structural problems the country has, is my main concern now.
Oct 10th, 2013 - 04:21 pm - Link - Report abuse 0Commenting for this story is now closed.
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