Argentina: Economic Developments; February 27, 2014

Author: International Monetary Fund. Western Hemisphere Dept.

Volume/Issue: Volume 2016 Issue 068

Publication date: February 2016

ISBN: 9781498396370

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , ISCR , CR , central bank , exchange rate , private sector , foreign exchange , real GDP , trade balance , nominal GDP , Banco Central de la Republica Argentina , federal government , wage-price-depreciation spiral , export products , car export , charter reform , International reserves , Public sector , Exports , Exchange rates , South America , Europe , Asia and Pacific , Global

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Summary

This report presents IMF staff analysis based on publicly available information through end- January 2014. Following its 2002 financial crisis, Argentina experienced a strong economic recovery, helped by an expansionary policy stance, an undervalued exchange rate, high and rising international prices for its key exports (soy, corn), and lower debt service payments. However, in 2013, balance-of-payments pressures intensified amid continuing high inflation. Economic growth recovered in 2013, though weakened sharply in the second half of the year. Inflation remained high. Financial deepening increased somewhat and financial stability was preserved despite the high inflation and growing external imbalances. Fiscal policy in 2013 was more expansionary than in the previous year.