INSUBCONTINENT EXCLUSIVE:
Recently, the International Monetary Fund (IMF) revised its economic forecast for Argentina.It now anticipates a sharper contraction of 3.5
percent for 2024, marking an increase from earlier projections.Additionally, this significant revision follows the approval of the eighth
review under the Extended Fund Facility agreement.This agreement has been managing a debt of $44.5 billion since March 2022.Moreover, the
IMF offers a spark of optimism by lowering its inflation predictions to 140 percent annually.IMF Updates Economic Outlook for Argentina in
(Photo Internet reproduction)Consequently, it expects monthly price increases to stabilize at about 4 percent by the end of the year.Despite
a projected GDP decline, the latter half of the year could witness an economic recovery as fiscal consolidation softens.Additionally, real
wages are expected to begin rising, and investments should gradually increase.Under the leadership of President Javier Milei, Argentina has
enforced strict fiscal policies.Remarkably, these policies have avoided new monetary financing, leading to surpluses in both fiscal and
seen in years.These measures have accelerated disinflation and notably strengthened economic reserves.IMF Updates Economic Outlook for
Argentina in 2024However, significant challenges lie ahead
Persistent macroeconomic imbalances require skillful policy adjustments to build on previous successes and drive recovery.Importantly, the
distorting taxes.Additionally, the IMF stresses the need for evolving monetary and exchange rate strategies to further aid disinflation and
reserve accumulation.Crucially, the anticipated elimination of exchange controls, in place since late 2019, is a key step.The government
plans to unveil a detailed strategy by the end of July to lift these restrictions, thereby enhancing economic governance and stability.This
