The Government of Argentina and The International Monetary Fund (IMF) Friday reached an agreement for the repayment of the South American country's debt stemming from a loan granted under the administration of Former President Mauricio Macri.
Standard & Poor's (S&P) confirmed it would maintain its 'B' rating for Argentine debt, highlighting that the president Mauricio Macri administration was continuing to meet the goals laid out by the International Monetary Fund (IMF) as part of the huge credit line agreed last year.
Thousands of Argentines on Friday protested the government’s bid to secure a credit line from the International Monetary Fund, which they blame for hardship during a past financial crisis. Opposition parties, unions, human rights organizations and artists took part in the march near the capital Buenos Aires’ emblematic obelisk, under the banner “the country is in danger.”
The International Monetary Fund’s (IMF) World Economic Outlook update for April 2018 has reduced its expectations of growth for Argentina this year, and its projected annual inflation rate largely exceeds the 15% goal set by president Mauricio the Macri administration in December 2017.
The International Monetary Fund has become more pessimistic about Latin America in the January economic outlook update. IMF is now forecasting regional GDP growth of just 1.2% in 2017, down from the 1.6% projection it made in October. It also lowered its 2018 estimate for Latin America by 0.1% to a revised projection of 2.1% expansion.
International Monetary Fund said that the economy of Latin America and the Caribbean will shrink 0.6% this year, compared with its earlier projection of a 0.5% contraction. The prediction is part of the latest edition of the IMF's World Economic Outlook, which points out that while major regional economies such as Brazil and Venezuela are suffering, most other countries in the area continue to expand.
Global economic growth will be disappointing and patchy in 2016, the head of the International Monetary Fund, Christine Lagarde, wrote in an article published in the German business daily Handelsblatt on Wednesday.
Greek banks are to remain closed and capital controls will be imposed, Prime Minister Alexis Tsipras announced. Speaking after the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks, Tsipras underlined Greek deposits were safe.
The International Monetary Fund extended the period given to Argentina to remedy its local statistical measurement tools, while recognizing the country has made advancements in the matter. The IMF directive board met on Wednesday in Washington to assess Argentina's statistical indexes.
The International Monetary Fund announced on Tuesday that it “regretted the lack of sufficient progress” with Argentina to address the quality of the official data reported by the country and urged it to come up with a response to the organization’s concerns by December 17th.