MEXICO CITY (Reuters) – Argentina is considering how to persuade the International Monetary Fund to further ease economic targets in the country’s billion-dollar loan program, which could A severe drought hit exports and threatened to push the economy into recession, one source said.
IMF program and discussions between Argentina and the IMF. The sources, speaking on condition of anonymity due to the sensitivity of the talks, declined to provide further details.
The International Monetary Fund has cut the country’s required annual increase in foreign exchange reserves by $1.8 billion at the end of the year. The International Monetary Fund cited the drought’s impact on Argentina’s main exports, soybeans and corn, and some analysts expected more policy easing would be needed. Discuss the plan with Argentine Economy Minister Sergio Massa.
“We talked about the impact of the worst drought in Argentina’s history and we are committed to continue to work closely together to strengthen the plan,” Gopinath said on Twitter.
Some analysts say the economic targets contained in the plan look too optimistic, especially considering Argentina Deteriorating macroeconomic outlook.
IMF forecast 2023 annual inflation rate 60%, while analysts’ forecast exceeded
%.
In March, retail prices rose 7.7%, higher than analysts’ expectations, as Argentina The annual inflation rate soared to 104.3%.
