The IMF and the underestimation of the problems of the Argentine economy

The International Monetary Fund (IMF) acknowledged yesterday that it underestimated the "incredibly complex situation" of the Argentine economy. In accordance with the ruling party's statements, he also admitted that the control of inflation "took a lot longer" than expected.

Christine Lagarde, the Executive Director of the Fund, spoke Wednesday in Washington of the global situation at the Institute of American Business, where questions about the situation in Argentina were not long in coming. In any case, he was "reasonably and, hopefully, optimistic" about the country's changing economy, insisting that the agreed plan "will eventually be a successful plan "despite the figures of the economic crisis we are going through.

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 ".

Speaking of inflation, Lagarde warned that "instead of stabilizing and gradually decreasing, as we had planned, it shows a resistance much higher than we thought. "Now it's starting to go down, but it's taking longer than expected.", Reiterated the director of the IMF about the persistent rise in prices.

Upcoming disbursements

After the IMF mission, it is necessary that the $ 5,500 million of the commitment loan signed last year. To this end, Nicolas Dujovne and Guido Sandleris will meet this Saturday in Japan with Christine Lagarde. The theme will be the progress of the agreement with the agency and the income from the new disbursement.