As expected, the Fund's Board of Directors approved the review of Argentina's program, although it made it clear that Massa failed to meet all goals. The IMF applauds the fiscal effort promised by...
A Week of Good News, but There Are Important Battles Ahead
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A Week of Good News, but There Are Important Battles Ahead
Third week
December 2022
Last week was clearly a week of good news. Yesterday, Argentina beat France by penalties, achieving its third World Cup. In the economy, the government celebrated on Wednesday one of the best auctions in several months where it managed not only to renew maturities but also to raise a good part of the money necessary to finance December’s deficit, seasonally the highest of the year. On Thursday, inflation broke forecasts at 4.92%, one point less than what we expected and generally much lower than the market consensus. Third quarter GDP, while older story, also turned out slightly better than expected. 500 million dollars from the IDB also entered and the Central Bank bought 361 million more in the market, through soybean dollars.