MercoPress. South Atlantic News Agency
IMF forecasts two years of recession for Argentina
“Increasing economic misbalances” and “uncertainty” because of the ongoing litigation with the holdouts The International Monetary Fund anticipates two years of recession for Argentina in a context of “increasing economic misbalances” and “uncertainty” because of the ongoing litigation with the holdouts or 'vulture funds', as well as inflationary tensions.
In the latest World Economic Outlook, WEO, IMF anticipated that Argentina will undergo a 1.7% contraction this year and another 1.5% negative growth in 2015.
The forecast mentions the “growing macroeconomic misbalances and uncertainties linked to the persistent confrontation with creditors” that did not accept the restructuring of sovereign bonds.
It also warns that inflation remains high and that the gap between the official US dollar exchange rate and that of the 'parallel' dollar has increased in recent months.
Likewise IMF estimated that the unemployment rate in Argentina will reach 8,8% this year and 9% in 2015.
Top Comments
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Read all commentsNot paying your debts finally bitting Argentina on the backside. A real shame for the the poor people, led by a corrupt leadership.
Oct 08th, 2014 - 08:52 pm 0CFK, finally running out of other people's money. It is the people who will pay for her ridiculous economic failure and personal corruption.
Oct 08th, 2014 - 08:59 pm 0You don't here too many “UK is finished” remarks on here any more, and wasn't latin america set to be the new global economic power house.
Oct 08th, 2014 - 09:04 pm 0Enjoy your recession Argentina and I would forget two years, try 5-10.
http://www.telegraph.co.uk/finance/economics/11145124/Britain-cements-position-at-top-of-G7-growth-league-as-eurozone-stutters.html
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