Argentina Economic Outlook
June 12, 2018
Argentina and the IMF reached a preliminary agreement on 7 June for a three-year USD 50 billion stand-by arrangement that will keep the economy afloat as the government pushes through economic reforms. While the final agreement is still subject to approval by the IMF board, the government pledged to now accelerate economic reforms, including reforming the Central Bank charter, reducing currency interventions and achieving a primary fiscal surplus by the year 2021. These measures are intended to make the economy more resilient to economic shocks and capable of achieving faster economic growth in the medium and long term. However, the tough reforms and fiscal consolidation are expected to have a negative impact on economic growth in the short term and weigh on the ongoing economic recovery. GDP is expected to have expanded solidly in the first quarter due to buoyant growth in the domestic economy.Argentina Economic Growth
Economic growth is expected to slow sharply from 2017’s strong expansion due to fiscal consolidation measures, restrictive credit conditions and the pass-through effect of higher inflation on private consumption. Panelists participating in the LatinFocus Consensus Forecast foresee the economy expanding 1.7% in 2018, which is down 0.6 percentage points from last month’s forecast. For 2019, growth is expected to reach 2.5%.Argentina Economy Data
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Argentina Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.69 | 0.15 % | Dec 17 |
| Exchange Rate | 27.92 | 0.45 % | Jun 14 |
| Stock Market | 30,115 | 2.26 % | Jun 14 |
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Argentina Economic News
Argentina: Economy expands at a strong pace in Q1
June 20, 2018
According to the Statistical Institute (Instituto Nacional de Estadísticas y Censos, INDEC), economic activity in Q1 decelerated from Q4’s 3.9% year-on-year expansion, but remained strong at a 3.6% increase.
Argentina: Argentina clinches USD 50 billion loan from IMF
June 8, 2018
Argentina reached a USD 50.0 billion Stand-By Agreement (SBA) deal with the IMF, after weeks of financial turbulence caused the currency to depreciate sharply in early May.
Argentina: Growth in industrial output picks up in April
May 31, 2018
In April, industrial production expanded 3.4% over the same month last year, according to data released by the National Statistical Institute (INDEC) on 1 June.
Argentina: Consumer sentiment plummets to over four-year low in May
May 25, 2018
The Universidad Torcuato di Tella (UTDT) consumer confidence index dropped from 40.1 points in April to 36.1 points in May.
Argentina: Central Bank maintains rate unchanged at record high of 40.00%
May 23, 2018
At its latest bimonthly meeting held on 22 May, the Central Bank of Argentina (Banco Central de la República Argentina, BCRA) decided to leave the 7-day repo reference rate unchanged at an all-time high of 40.00%.
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