Argentina : second review under the stand by arrangement ; financing assurances review ; and request for modification of performance criterion-press release ; and staff report / International Monetary
Published
Washington, D.C. : International Monetary Fund, [2018]
The redesigned IMF-supported economic reform program is bearing early results. Financial markets have stabilized since end-September, following the adoption of the new monetary policy framework. After the appreciation of the currency in October, the peso has floated within the non-intervention zone. Short-term interest rates have fallen back to their end-September level. The passage of the 2019 Budget with broad political support has helped solidify confidence in the authorities' stabilization plan. As a result, demand for Argentine bonds has strengthened and sovereign risk premia have narrowed
