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IMF forecasts two years of recession for Argentina

Wednesday, October 8th 2014 - 20:40 UTC
Full article 25 comments

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. Read full article

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  • zathras

    Not 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 - Link - Report abuse 0
  • ilsen

    CFK, 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 - Link - Report abuse 0
  • Britworker

    You 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.

    Enjoy 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

    Oct 08th, 2014 - 09:04 pm - Link - Report abuse 0
  • Z-ville

    2 years seems like a pretty light sentence for all their crimes against the economy. 20 years to life seems like a more likely sentence when the markets figure in all their antics...

    Oct 08th, 2014 - 09:14 pm - Link - Report abuse 0
  • chronic

    I think rotting roadkill is facing an economic depression.

    Oct 08th, 2014 - 09:56 pm - Link - Report abuse 0
  • yankeeboy

    Pretty sure IMF is basing their info on the lies that are put out by INDEC and BCRA.
    You can't have a functioning economy in Argentina if you can't pay for imported fuel and mfg parts.

    This recession is a merely a blip going into a long depression.

    Oct 08th, 2014 - 10:17 pm - Link - Report abuse 0
  • La Patria

    I'm hoping the elections will see the end of Kirchnerism and her corrupt cronies but looking at the other candidates, it's difficult to see who could drag Argentina out of this self-inflicted quilombo.

    There is so much talent but not much sensibility and long-term planning........I agree, it's going to be longer than 2 years.

    Oct 09th, 2014 - 12:18 am - Link - Report abuse 0
  • Nostrum of NostrolL

    Are they the same people that predicted 10 years of recession in Argentina post-2001?

    I think they are.

    Back to “ignore” bin.

    Oct 09th, 2014 - 02:31 am - Link - Report abuse 0
  • reality check

    Tobiboy thinks denial is a river in Egypt!

    Oct 09th, 2014 - 03:23 am - Link - Report abuse 0
  • Nostrum of NostrolL

    No, reply number 3 is Denial:

    http://www.telegraph.co.uk/finance/comment/jeremy-warner/10720176/A-depressingly-familiar-reality-lies-behind-the-UKs-economic-miracle.html

    “economic miracle” based on yet another SCAM. As soon as interest rates blip, there goes UK housing, then goes spending, and there goes the “miracle”.

    No investment, no production, no exports, no innovation, no natural resources... The UK is once again chasing after fake growth.

    Oct 09th, 2014 - 03:33 am - Link - Report abuse 0
  • reality check

    Toboboy

    Did you miss the bleeding obvious?

    Both articles are written by the same bloody newspaper.

    Now Mr Genius, what does that tell you? apart from the fact that the UK has a free press!

    Oct 09th, 2014 - 03:54 am - Link - Report abuse 0
  • Nostrum of NostrolL

    That no one in the UK believes the numbers spewed by the government.

    Oct 09th, 2014 - 03:57 am - Link - Report abuse 0
  • reality check

    Lol.

    Never mind the UK.

    This story is about the state of your economy not ours.

    What you need is a distraction. You Argentines know what that is don't you?

    You should do, your doing it now.

    PMSL.

    Oct 09th, 2014 - 04:07 am - Link - Report abuse 0
  • Nostrum of NostrolL

    Mendoza is doing fine. fine wine, Foodstuffs , light aircraft, hydro tech, retail Center, apiculture, fruits, organic agriculture, oil, minerals, bottled water springs, wine tourism, ski tourism, retail tourism, a sh!tload of shale still untouched, and if worst Comes to worst Chileans by the thousands spending cash whenever a crisis hits.

    All is good.

    Oct 09th, 2014 - 04:30 am - Link - Report abuse 0
  • golfcronie

    @14
    All very well, pleased for you, but all the above is good but YOU won't be able to afford to buy it with runaway inflation, can YOU not see that or have YOU indoctrinated to such an extent that YOU will not see it?

    Oct 09th, 2014 - 06:36 am - Link - Report abuse 0
  • reality check

    Dadah!

    The food police announce a 4.5% rise in prices for the 4th quarter.

    All well in Mendoza.

    Liesr I tell you, all damn lies!

    Oct 09th, 2014 - 07:04 am - Link - Report abuse 0
  • ElaineB

    All that tourism TTT is hoping for involves a lot of foreigners, doesn't it?

    Oct 09th, 2014 - 08:31 am - Link - Report abuse 0
  • reality check

    Nahhhhh! it's down 20% for September.

    Still not enough though, he needs to try harder. I would suggest a sandwich board and a strategically placed Mendoza street corner. Something along the lines of, “Leave forthwith or be Clarksoned!” on one side and “Monolinguals go home!” on the reverse.

    Oct 09th, 2014 - 08:48 am - Link - Report abuse 0
  • Welsh Wizard

    @18 you mean “Monolinguals eunt domus”

    Oct 09th, 2014 - 10:09 am - Link - Report abuse 0
  • yankeeboy

    14. Poor Toby, remember he's never lived through a crisis. He has no idea what's going to happen. He can feel something is wrong, food has gotten more expensive, medicine is more, transportation is more except his parents pay isn't more. Now its not keeping up.
    Where do you cut? Meds? Food? Internet? All 3 are essential to health and his sanity.
    Just wait its gonna get worse.
    So far its been pretty fun watching his insanity increase.
    Think about this, you thought the Rs were crazy last year just wait until next year when there's no sanity meds left in the country!

    BTW Toby, you forgot Mendoza's largest employer and largest Rg owned company just filed for bankruptcy and was declared in default. Its just the first of many I presume.

    Oct 09th, 2014 - 11:07 am - Link - Report abuse 0
  • Conqueror

    @8, 10, 12, 14. I feel this urge to admire you for your beliefs. What a shame that you're a cretin. A few years from now you will be DEAD. Can't tell you exactly how. It might be hypothermia. Or starvation. Or someone might shoot you, knife you or just cave your skull in. Who knows, someone might even eat you! Who will 'save' you? No-one.

    Oct 09th, 2014 - 12:25 pm - Link - Report abuse 0
  • reality check

    @18

    Like it. Please accept my sincere apologies for painting that immature mental picture. No matter how plausible it sounds, I really could not see him leaving his basement to stand on a corner.

    Oct 09th, 2014 - 03:15 pm - Link - Report abuse 0
  • chronic

    Merval is puking.

    Oct 09th, 2014 - 04:35 pm - Link - Report abuse 0
  • ChrisR

    TWO years? TWENTY years is probly going to be the minimum.

    Even if I live longer than my father who was 84 when he died I doubt if TDC will be out of its' own shit by then.

    Oct 09th, 2014 - 05:38 pm - Link - Report abuse 0
  • Doggy Rap

    @ Idiot Child Toby wrote: “Mendoza is doing fine. All is good.”

    “Caída de ventas: 9,2% en el comercio y 35% en autos” (drop in sales 9.2% in trade and 35% in auto sales)
    http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
    http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista

    Sube 40,6% la tarifa de agua (water price up 40%)
    http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista

    52% de repartidores trabaja ‘en negro’ (52% of dispatchers work 'in black')
    http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista

    Subió el desempleo 2014Q2 en Mendoza del 4,1% al 4,8% (unemployment [in Mendoza] 0.7 percent points up in 2nd quarter)
    http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista

    En agosto se registró la mayor caída del año en ventas minoristas: 10% (in August this year's largest drop in retail sales: 10%)
    http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista

    UNCuyo: 34% aprueba sólo 1 materia (In the University of Cuyo 34% of the students finish only one subject a year)
    http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista

    Vinos embotellados: las exportaciones se concentran en menos jugadores. En tanto, las ventas al exterior caen en los principales destinos (Bottled wines: exports are concentrated in fewer producers. Meanwhile, foreign sales fall in major destinations)
    http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista

    Salarios: en Mendoza se pagan los más bajos de Cuyo (In Mendoza you are paid the lowest salary in the Cuyo region)
    http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista

    Tarifa eléctrica: un incremento del 32% (electricity price 32% up)
    http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista

    All is good.

    Oct 12th, 2014 - 04:48 pm - Link - Report abuse 0

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