IMF 'regrets' lack of progress with Argentina, issues December deadline

The International Monetary Fund announced that it “regretted the lack of sufficient progress” with Argentina to address the quality of the official data reported by the country and urged it to come up with a response to the organization’s concerns by December 17th.

The Executive Board is scheduled to meet again on that day and “may consider additional steps based on Argentina’s response and in line with IMF procedures,” a press release said.

“Argentina must improve the quality of data of the Consumer Prices Index (IPC) of the Buenos Aires province and of the gross domestic product, so that so that their quality is consistent with the compliance of duties set on the IMF’s constituent agreement.”

In this opportunity, “the Executive Board regrets the lack of sufficient progress n the application of corrective measures since February 1st 2012, "reads the brief statement. The IMF expressed its concerns that Argentina has not made the proper adjustments regarding its duties in light of the agreement signed with the entity.”

“The Board is aware of the ongoing dialogue between the IMF and authorities regarding measures and urged Argentina to implement them without further delays.”