Argentina’s economic reform program is beginning to show results, so it would “foolish” for presidential candidates to abandon the program, International Monetary Fund chief Christine Lagarde said Thursday.8 comments
Argentina’s economy contracted 2.5% in 2018, the official statistics agency said on Thursday, as the Latin American country’s leaders struggle to revive growth after being rattled by a currency crisis and steep inflation over the past year.
Argentina's central bank kept its key interest rate on Wednesday at 60%, one of the highest in the world, following a surprise hike two weeks ago after the peso plunged. Central bank officials said in a statement that inflation accelerated in August and continues to do so September, citing high-frequency data.
More Argentines are likely living in poverty now compared with last year, President Mauricio Macri said on Friday, as the country's economy slides toward recession following a currency crisis and a severe drought that harmed farm output.
Coca-Cola announced it would increase its investments in Argentina over the next three years, giving embottled President Mauricio Macri’s government a boost at a difficult time.
The latest IMF World Economic Outlook report anticipates that Argentina’s economic contraction will amount to 1.8% this year, fiercer than the IMF’s last forecast of a 1% decline. Inflation, meanwhile, will hover at around 40%, above government estimates, the Fund said.
An IMF mission started on Monday a round of meetings with the purpose of rebuilding relations with Argentina, frozen for over a decade. The mission headed by economist Roberto Cardarelli began early Monday visiting the Argentine Industrial Union, UIA, the country's manufacturers main lobby.