It should be noted that private estimates speak of an inflation floor of 70%, while others venture that Argentina could reach 100% this year. In fact, it is estimated that in July inflation could be close to 8%, while August would reflect the increases in both the rise in rates and the dollar, from which it is estimated that it could also be a value close to 5% / 6%.
In this sense, Gourinchas asserted that “of course, reducing inflation to a more stable macroeconomic environment has to be the absolute priority for the country” And, I slip a doubt regarding “If the policies that have been implemented so far are really going to achieve it. Without a doubt, that is the issue that must be addressed.” he added. In this framework, it is explained that the first concepts of the minister, Silvina Batakiswho is in the United States, were in the sense of “maintaining fiscal discipline” and yesterday the statement issued by Kristalina Georgieva, the head celebrated the “initial efforts to strengthen fiscal sustainability.
While I Petya Koeva Brooks, Deputy Director of the Department of Studies, I highlight the “strong growth in activity and confirmed that I don’t know “modify forecast” for Argentina, which is why growth is maintained at 4% for this year and 3% for 2023.
Although, I anticipate that these topics will be discussed with “the staff on the occasion of the second review” which will take place in September.
Inflation was one of the topics that dominated the conference, as well as the energy situation and doubts regarding global growth on the occasion of the presentation of the IMF’s World Economic Outlook.
The body reduced by almost half a point (0.4%) its global growth forecast, to 3.2%, according to data from the World Economic Outlook report (Word Economic Outlook) released this Tuesday in Washington. But, at least in this report, the Fund does not forecast that we are facing a recession.
Source: Ambito
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