May 23, 2013
WTO scolds Argentina over trade policy, inflation figures
The World Trade Organization (WTO) is the latest organization to criticize Argentina over its controversial inflation figures, and said local restrictions to imports put the pressure on prices.
“An increase in inflation is a source of concern, even though you can’t see that reflected on the official data,” the organization stated while revising the country’s policies on trade.
The documents were drafted by the WTO for their regular revision of the country at the Genève headquarters.
Trade policies of developing countries are reviewed by the organization every six years and they are a seldom chance for WTO officials to issue a statement. They are usually neutral and leave the 159 country members to debate between them.
Inflation is measured by only taking into account any variations in the consumer price index of the Greater Buenos Aires area, the document reads.
Argentina has already been reprimanded by the International Monetary Fund by its statistics and gave the country a September 29 deadline to fix the situation.