IMF forecasts inflation higher than 57% for this year – News

The International Monetary Fund (IMF) predicted that the Argentine economy would collapse by 3.1% this year with inflation of 57.3%, while the outlook for 2020 is less obscure.

"The contraction in Argentina continued throughout the first half of the year, albeit at a slower pace, and the risks for the future are decreasing despite the sharp deterioration in market conditions, "said the agency.

The agency's analysis and projections were published in the World Economic Panorama (WEO) released Tuesday in the city of Washington, at the start of the annual meeting.

The Fund said the country's economy shrank by 2.5% in 2018, would be reduced by 3.1% in 2019 and would be down 1.3% in 2020.

He also said that the current account balance would record a deficit of 1.2% of gross domestic product this year and would reach a 0.3% surplus in 2020.

In terms of inflation, the Monetary Fund estimated that prices would end in 2019 with an increase of 57.3% and accumulate an increase of 39.2% throughout 2020.

In this context, unemployment will reach 10.6% in December this year and could fall to 10.1% in 2020.