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Montevideo, November 29th 2022 - 14:25 UTC

 

 

Argentina's economy forecasted to contract 1.5% this year, says IMF

Thursday, January 22nd 2015 - 05:52 UTC
Full article 10 comments
IMF argues that net importers of petroleum, such as Argentina, will benefit, while exporting nations such as Venezuela will suffer a severe economic impact. IMF argues that net importers of petroleum, such as Argentina, will benefit, while exporting nations such as Venezuela will suffer a severe economic impact.

The International Monetary Fund (IMF) has predicted that Argentina's economy will contract by 1.3% in 2015, a figure smaller than original estimates, as the organization revised its world projections to reflect tumbling oil prices.

 IMF technicians signaled that the fall in the price of the fuel would overall have a neutral effect on the Latin American region. Countries that are net importers of petroleum, such as Argentina, will benefit from the cheaper commodity, while exporting nations such as Venezuela will see a graver economic impact.

In Argentina's case, however, the falls raise questions over the viability of the Vaca Muerta project, given that low prices are seen to discourage investment in the non-conventional fuel source.

Overall, the IMF forecasts a year of “mediocre growth” for the region in 2015, marked by a dramatic predictions of a 7% drop in GDP for Venezuela and tepid figures for other countries, such as Brazil and Argentina, 0.3% and minus 1.3%.

Categories: Economy, Argentina.

Top Comments

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  • LEPRecon

    I wonder how much more of the K's 'won' decade the Argentine economy can take?

    Jan 22nd, 2015 - 06:13 am 0
  • chronic

    The commodity based perronista protectionist state - lol. Elvis, how do you like it now? Better as a colony of china?

    Jan 22nd, 2015 - 10:37 am 0
  • dsullivanboston

    another CFK murder, the argentine economy... Along with Argentine credibility.. she is actually a serial killer

    Jan 22nd, 2015 - 12:23 pm 0
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