Pierre-Olivier Gourinchas, Economic Counselor and Director of the Research Department, IMF (International Monetary Fund), said, this Tuesday, at a press conference, after the presentation of the latest world projections, that “the situation in Argentina is worrying.”
For the organism international: “Argentina has, at this point, an inflationary process that is not anchored”, for which the director of the IMF warned: “lowering inflation must be an absolute priority”.
The Counselor of IMFIn addition, he pointed out that measures must be taken, since, according to projections, “year-on-year inflation in June was 64%, if I’m not mistaken. There are expectations that it could increase further in the course of the year”.
This forecast is far from what was projected between the Government and the agency at the beginning of the year, since, in the agreement that was signed in March, it was expected to close the year with accumulated inflation close to 50%.
“The question that is being debated now is whether the current mix of policies is sufficient,” the Counselor stressed, adding: “It remains to be seen whether the policies that have been put in place so far are going to do it, that remains to be seen. Certainly That is the issue that needs to be tackled head-on.”
Regarding the growth projections for the country, the Fund pointed out that the expectations are 4%, that is to say that there were no variations compared to the figure reported in the last report last April.
The announcement comes one day after the meeting between the Minister of Economy, Silvina Batakis, and the director of the IMFKristalina Georgieva, where the Fund insisted, to the head of the Palacio de Hacienda, on the importance of “strengthening fiscal sustainability”.
What were the global growth projections
In his report, the organism He explained that, as a result of the war in Ukraine and the growing inflationary pressure, lhe growth projections for Latin America and the Caribbean in 2022 will be 3%.
In addition, they pointed out that the world economy will slow down from 6.1% last year to 3.2% during 2022, which affects the main powers of the world, especially the United States and Europe.
