IMF admits to underestimating critical economic situation in Argentina

This has been reviewed by the Executive Director of the Fund, Christine Lagarde, which however showed "Reasonably and hopefully positive" on the evolution of the country's economic activity, despite the stagnation of the productive apparatus and the decline in consumption.

Lagarde spoke Wednesday in Washington of the world situation at the Institute of American Business and answered a question about Argentina.

At that time, he insisted that the implementation of the program agreed with the Government of Mauricio Macri "It will end up being a successful plan."

Lagarde expressed his opinion on the country in the first year of the largest agreement in the history of the Fund, which has reached a total of $ 57,000 million.

The official also acknowledged that the agency and the government had underestimated the severity of the crisis, and that they were too optimistic about the forecasts to contain the price hike.

Referring to the country, he said: "It's an incredibly complex economic situation that many actors, including us among us, have underestimated a bit when we started trying to put together a program with the Argentine authorities ".

When we talk about l & # 39; inflation Lagarde warned that "instead of stabilizing and gradually decreasing as we had planned, It shows a lot more resistance than we thought. "

"Now it's starting to decline, but it's taking longer than expected," the director of the IMF repeated about the persistent rise in prices.