Very difficult with the crisis in Argentina, for the UN, the horizon is very uncertain

In addition, according to UN calculations, Argentina's GDP has decreased by 2.8% in 2018 and this year the contraction will be 1.8%. In both cases, this is the only negative result in the countries of the region, except Venezuela. Meanwhile, Uruguay has grown by 1.9% and a 1.5% is expected by 2019; Paraguay, 4.5% and 4.7%; Brazil, 1.4 and 2.1; Bolivia, 4.3 and 4.4, and Chile, 3.9 and 3.3.

The work also indicates that in 2018 the deterioration of the value of the Argentine currency was the highest among the economies having their own weight in the world. The international organization points out that the deterioration of Argentina's exchange rate "is due to internal factors".

The United Nations also notes that besides Argentina, India, Indonesia and Mexico have had to raise their interest rates and that in addition to the local case, Barbados Pakistan and Sri Lanka had to resort to IMF financial badistance. However, Argentina because its performance contributed to the deepening of imbalances.

"Current account and budget deficits, coupled with the government's lack of capacity to control inflation, have motivated growing pessimism about the future of the economy, says the report. He then adds that "with an economy in recession combined with severe measures of fiscal austerity, the horizon is very uncertain".

He also pointed out that in the region "household consumption slowed down in 2018, partly because of the weakening of the labor market and the sharp deterioration of the situation in Argentina".

In the same sense, it contributes to "The economic recession of 2018 has been particularly severe in Argentina" and adds that "most countries have remained in line with the inflation targets of their central banks, with the exception of Argentina and Venezuela".

The inflation – optimistically estimated – by the United Nations of 32% for the year in Argentina is exceeded only by Iran (34.9), because there is no data for Venezuela.