Christine Lagarde acknowledged that the IMF had underestimated the crisis in Argentina

The International Monetary Fund (IMF) admitted to underestimating the "incredibly complicated situation" of the Argentine economy and also admitted that control of inflation "took much longer" than originally planned.

This was considered by the executive director of the entity, Christine Lagarde, who was however "reasonably and happily positive" on the evolution of the economic activity of the country, despite the stagnation of the production apparatus and the fall of the consumption.

Lagarde spoke Wednesday in Washington of the world situation at the Institute of American Business and answered a question about Argentina. At the conference, the owner of the fund insisted that the implementation of the program had been agreed with the government. "It will end up being a successful plan".

The official also acknowledged that the IMF and the government had underestimated the severity of the crisis and admitted that they were too optimistic on the forecasts to contain the rise in prices.

The director spoke about the country's economy in the first year of the largest agreement in the history of the Fund, which reached a total of 57,000 million USD. "It is an incredibly complicated economic situation that many players, including ourselves, have a little underestimated when we started trying to set up a program with the Argentine authorities," he said. he declares.

Regarding inflation, Lagarde warned that instead of stabilizing and gradually decreasing as expected, she was showing much greater resistance. "Now it's starting to go down, but it's taking longer than expected," he said.