May 23, 2013
IMF board of directors to discuss Argentine statistics on February 1st
The board of directors of the International Monetary Fund will review Argentine statistics on February 1st, managing director Christine Lagarde announced today.
The IMF will also send a team to assess the Argentine financial sector, Lagarde revealed.
The Government has thus far rejected all of the IMF’s examinations, as it considers it responsible of the country's economic crisis of 2001 and 2002.
Argentina paid all its debts with the credit organization and only accepted a technical mission to solve trouble surrounding inflation estimation and the measuring of the GDP.
The Fund’s recommendations have been rejected, which prompted the organization to issue an alert towards Argentina in September.
Negotiations did not move forward and thus Lagarde sent a report to the board of directors regarding which steps to take next, although she refused to give any details on the subject.
“What I can tell you is that the meeting with the board of directors is scheduled for February 1st,” she said during as press conference. “I can also say that we sent a group of experts (to Argentina) with the aim of assessing the financial sector."
The IMF set up the Financial Sector Assessment Program (FSAP) in 1999 for member countries who wish to strengthen their financial sectors.
“This assessment is not related to the reliability of the the Argentine macroeconomic data,” Lagarde clarified, and added that another group of experts will arrive in March.