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July 23, 2014
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World Bank requests 'macroeconomic adjustment' for Argentina

World Bank chief economist for South America, Agusto de La Torre, considered today Argentina must implement a “macroeconomic adjustment” in order to face future obstacles in its local economy.

Although De la Torre remarked the country’s “vigorous grow in the past 12 years,” he warned that Argentina “did not took on damping policies against crashes.”

Comments were stated hours before a meeting between Economy Minister Axel Kicillof and World Bank authorities, where the parts analyzed a new credit line bound to the country led by President Cristina Fernández de Kirchner.

According the official, Argentina’s priorities must included “a damping policy, which requires a short term adjustment in the macro economy, combined with fiscal and monetary policies.”

And in addition, improve “the trust of its institutions before local and international investors so they will be able to make long term bets,” De la Torre concluded.

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Tags:  Argentina  Economy  World Bank  Kicillof  CFK  





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