MercoPress. South Atlantic News Agency
IMF extends Argentina a new deadline for CPI and GDP statistics
Directors of the International Monetary Fund (IMF) announced on Monday that they will give Argentine authorities an extended deadline in order to improve upon disputed national statistics, giving the nation until March 2014 to make the necessary changes. Read full article
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Disclaimer & comment rulesToothless..... deadline extensions upon deadline extensions.
Dec 10th, 2013 - 11:17 pm - Link - Report abuse 0It's like overseeing a sheltered workshop I guess.
Dec 10th, 2013 - 11:21 pm - Link - Report abuse 0Does anybody have an idea why the IMF is really in this world?
Dec 11th, 2013 - 03:59 am - Link - Report abuse 0Didn't the IMF start just after WWII? Is the IMF there just so France can have some kind of position in this world, as long as it's totally useless?
I doubt it will really matter, with the way things are going in Argentina, there may well be a new government in power by Mar 14.
Dec 11th, 2013 - 06:59 am - Link - Report abuse 0Maybe this is what the IMF are waiting for. Hoping that someone sensible will get into power.
She is so desperate,
Dec 11th, 2013 - 11:07 am - Link - Report abuse 0perhaps she and CFK have more in common that we first thought..
@ 5 Briton
Dec 11th, 2013 - 11:59 am - Link - Report abuse 0Yes, they are both crooks in the real meaning of the word.
@3 No, the IMF started just before the end of WWII, 1944 to be precise.
Dec 11th, 2013 - 12:08 pm - Link - Report abuse 0But it's really no different to the UN. Imagine, the “Board of Governors” consists of one governor and one alternate governor for each member country. That's 376 members of the Board! Then there's the Executive Board. That's 24 Executive Directors. The United States, Japan, Germany, France, the United Kingdom, China, the Russian Federation, and Saudi Arabia each appoint an Executive Director. The remaining Executive Directors represent the other 180 members.
What the IMF really needs is a smaller Executive Board. The 12 main members might be the best idea.
The delay may prove to be very bothersome to Argentina. They can't get money from any Int'l bank until they are in good standing at the IMF.
Dec 11th, 2013 - 12:16 pm - Link - Report abuse 0March may prove to be too late before everything runs out at BCRA.
The peso is in free fall and they are blowing through U$ trying to keep the support up but it's not working very well.
They estimate businesses lost 500MM/day in the riots. That's not insured. That's someone's family savings. It will not be recovered.
The police wages will go up 100% in a year.
My guess inflation will be over 50% next year and if they don't do something to contain it they'll be in hyperinflation by eoy.
@4 “Maybe this is what the IMF are waiting for. Hoping that someone sensible will get into power.”
Dec 11th, 2013 - 03:23 pm - Link - Report abuse 0I believe that is exactly what the IMF is waiting for. It will be easier for them to work with a new government.
After the last default the popular 'we are the victims' myth in Argentina was that the IMF caused the financial meltdown and was entirely responsible. It was never that simple and whilst I think some responsibility lay outside Argentina, the majority of the problem was with the Argentine government.
It does not help anyone to watch a country default and collapse. It might give a small amount of satisfaction to those that despise CFK and her bandits (me included), and give the Falkland Islanders a break from the persistent lies and attacks, but it is never something to be welcomed. It will have consequences outside of the country and we really don't need it when the world's economy is fairly fragile. Beyond that it will be a lot of innocent and vulnerable people in Argentina that suffer.
The IMF made mistakes last time that they will not be keen to repeat. The Argentine government repeatedly make the same mistakes.
@9 nice post Elaine. More or less what I'm thinking from here as there is an old slogan “when Argentina catches a cold, Uruguay gets pneumonia”
Dec 11th, 2013 - 04:17 pm - Link - Report abuse 0@ 10 redp0ll
Dec 11th, 2013 - 06:57 pm - Link - Report abuse 0Especially as Pepe has been unable to move away from TMBOA in any meaningful sense.
That is the reason why I am not hooting for a downfall, WE will be paying for his failures, again.
Pepe's is lame dog like manuelita his bitch. I don't think Vasquez will allow him to much more damage to his electoral chances
Dec 11th, 2013 - 07:38 pm - Link - Report abuse 0At present it's scam after scam, and not just the latest episode of PLuna
PIt/CNT seems to have pocketed the advance on a housing complex worth 37 m dóllars, of which of course they profess to be completely innocent of course
Yes the massive wage increases (totally deserved in my eyes) to the police has shown the rest of the economy how it should be done. I think I read that hospital staff were walking out in Chubut asking for their wage increase.
Dec 11th, 2013 - 08:51 pm - Link - Report abuse 0Yankeeboy is right.... massive increase in inflation about to kick off. I expect power outages as the printing presses crank up into full gear.
November 2064. IMF extends Argentina a new deadline for CPI and GDP statistics.
Dec 11th, 2013 - 09:13 pm - Link - Report abuse 0Argentina will have to submit to IMF audits beginning in Feb. They're setting them up to either comply with all directives 1st quarter 2014 or get expelled all on Argentina's terms.
Dec 12th, 2013 - 11:45 am - Link - Report abuse 0I'll be very surprised if Arg doesn't capitulate.
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