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IMF estimates Argentine economy will contract 0.3% this year and expand 0.1% in 2016

Wednesday, April 15th 2015 - 07:53 UTC
Full article 22 comments

The International Monetary Fund, IMF, cut its growth estimates for Argentina for this year forecasting a 0.3% contraction followed by a shy recovery of 0.1% in 2016, the first post-Kirchner year. The data is from the IMF World Economic Outlook released on Tuesday in Washington. Read full article

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  • ilsen

    Everybody is waiting for Cristina to go, so they can get on with their lives again.

    Overcoming that level of inflation will be a big challenge for the next government. I hope the people remember with whom the blame rests.

    Apr 15th, 2015 - 08:09 am - Link - Report abuse 0
  • Chicureo

    The IMF is working off false economic indicators. The economic contraction will be far worse as inflation alone has been double what is officially reported.

    Apr 15th, 2015 - 11:10 am - Link - Report abuse 0
  • yankeeboy

    Inflation isn't the main problem. They're out of U$ and have a negative trade balance.
    They've never been worse off.
    BTW Soy farming went unprofitable yesterday.
    :)

    Apr 15th, 2015 - 11:44 am - Link - Report abuse 0
  • Troy Tempest

    1 ilsen,

    “Everybody is waiting for Cristina to go, so they can get on with their lives again”

    I agree, but she can't afford to go - too dangerous now!

    Everything is unravelling and she'll be the scapegoat unless she keeps loyalists in control.

    I wonder how long F-Max can keep the train on the rails until he has to run or clamp down like Maduro... ?

    Apr 15th, 2015 - 04:36 pm - Link - Report abuse 0
  • Englander

    The 0.1% recovery in 2016 is due entirely to the relief of seeing the end of Mrs Kirchner. The worst President in Argentine history including the Military Dictators.

    Apr 15th, 2015 - 05:22 pm - Link - Report abuse 0
  • ChrisR

    What we all KNOW, is that TMBOA has salted all the money she can possibly get outside the country.

    Even she is not so stupid as to leave big money in TDC, the next President will nick it, just like she has!

    Apr 15th, 2015 - 05:22 pm - Link - Report abuse 0
  • Klingon

    As someone who actually lives here, I say the numbers are complete shit!
    The economy will contract more this year and increase more next year when Macri steps in. Yes he will have a can of worms on his hands, but at least investors will have confidence in him.
    Inflation is probably around 30% this year, judging by the prices so far.

    Apr 15th, 2015 - 07:11 pm - Link - Report abuse 0
  • Briton

    I wonder how much more misery CFK will create before she goes.

    Apr 15th, 2015 - 07:44 pm - Link - Report abuse 0
  • gordo1

    @ 7 Klingon

    Of course you are right! Why can't the truth be told?

    Apr 15th, 2015 - 07:52 pm - Link - Report abuse 0
  • ilsen

    @9 gordo1
    “Why can't the truth be told? ”

    just ask Nisman...

    oops!

    Apr 16th, 2015 - 12:58 am - Link - Report abuse 0
  • yankeeboy

    7. There is a Tsunami of inflation coming 1st or 2nd quarter or 2016 and BCRA is negative 10s of Billions of U$.
    Macri can't fix anything.
    If he's lucky he'll get the USA to fast track an IMF bailout.
    I don't think he'll be lucky.

    Soy collections are down 33% yoy.
    MFG and Exports are at a standstill

    2016 will be much much worst than 2015
    and there's really nothing anyone can do about it.

    Apr 16th, 2015 - 01:47 am - Link - Report abuse 0
  • Enrique Massot

    Isn't amazing that with such “catastrophic” state of the economy Argentina and its government continues to forge ahead with strong citizen support?
    Cristina's approval rate remains high at the end of her second term, even without possibility of re-election.
    The firm Ibarómetro released results of a poll done in the Province of Buenos Aires between March 20 and 23 noted CFK's positive image was 49,4 per cent.
    A week before, the firm Poliarquía said CFK's acceptance level is 40 per cent.
    The primary election in the Province of Salta (the first test of voters' mood in the country in anticipation of the October national election) gave over 47 per cent of ballots to the current kirchnerist governor, with his closest rival getting less than 33 per cent.
    Something is probably wrong with this picture if we believe the accuracy of the panorama depicted in the above comments.

    Apr 16th, 2015 - 03:17 am - Link - Report abuse 0
  • Skip

    That's not amazing.

    That's peronism brainwashing.

    None of us are surprised.

    Apr 16th, 2015 - 08:04 am - Link - Report abuse 0
  • yankeeboy

    Poverty is probably around 40-50% at this point. That's who the KThugs pay and that who supports them.

    We have the same % aberrations in the USA, about 47% of the population gets some sort of Gov't payment...they support Dems. The other 47% pay in, they're Repub and the elections are won with the middle.

    Poor Reekie, did you support Chavez too?
    Yeah you probably did
    Loser.

    Apr 16th, 2015 - 11:25 am - Link - Report abuse 0
  • Vestige

    Gonna be so funny when the next arg president also tells singer to go fk himself again.
    He'll be cold in the ground before the holdouts see a cent.(of the original offer).

    Apr 17th, 2015 - 11:54 am - Link - Report abuse 0
  • Skip

    Why is that funny?

    Singer doesn't have the money now anyway.

    And Argentina is still in default.

    Not funny. Just reality.

    Apr 17th, 2015 - 01:25 pm - Link - Report abuse 0
  • yankeeboy

    15. The next Prez will be out of U$ and has no where to turn. They could decide to take the same stance as CFK but I don't think they have that luxury.
    The court cases are moving along in the USA, NML and all the investors that have piled on will soon have the list of Arg assets outside of Arg. Then they can start seizing them.
    It won't be too much longer now.

    Apr 17th, 2015 - 01:54 pm - Link - Report abuse 0
  • Vestige

    oh yeah ... not long.

    yip.

    Apr 18th, 2015 - 02:40 am - Link - Report abuse 0
  • yankeeboy

    Sistah, 78% of BCRA “reserves” are from short term loans due right after the next Prez takes over.

    tik toc
    kaboom
    :)

    Apr 19th, 2015 - 01:00 pm - Link - Report abuse 0
  • Vestige

    Yeah tick tock.

    Like last year

    Apr 21st, 2015 - 07:07 am - Link - Report abuse 0
  • yankeeboy

    I know! The anticipation is delightful isn't it?
    Did you hear that they are forced to perform Mastectomies in Venezuela since they don't have any cancer meds any longer.
    I hear the Childrens Hospital can't perform surgeries any longer because they don't have heat.
    Tic toc
    tic toc

    Apr 22nd, 2015 - 12:11 pm - Link - Report abuse 0
  • Troy Tempest

    25 YB

    “ Did you hear that they are forced to perform Mastectomies in Venezuela since they don't have any cancer meds any longer.”

    “I hear the Childrens Hospital can't perform surgeries any longer because they don't have heat.”

    Both are tragic and sad statements on the human toll that is being taken by Maduro's government.

    It's shocking that a so-called “Socialist” government cannot manage the bare necessities for its people- health care and medication, or even food and fuel.

    An oil-rich state that can't fuel the heat for its hospitals...

    Vestige, Stevie, Marcos, Think... great to see the success of your Populist Utopian model - a warning to all.

    Argentines wake up - this is your future under the Peronists!

    Argentina will belong to China within 25 years.
    China and Russia already own all your petro-futures - locked in, until THEY decide it is profitable for them to exploit it.

    Did you notice that the aircraft offered by China and Russia are configured for Air to Ground attack, without long range capability to go very far to a neighbouring state ?

    What will they be used against??

    Apr 22nd, 2015 - 03:59 pm - Link - Report abuse 0

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