The IMF listed these measures in its most recent staff report, which it released after the disbursement of US$7.5 billion. The report indicated that the Fund had approved its fifth and sixth reviews, and provided new goals for 2023. The document summarized “recent developments” in the Argentine economy, stating that “the fiscal deficit increased significantly” due to the drop in export revenues caused by the drought. The Fund’s report acknowledged that the measures would provide relief for households, along with small and medium businesses; “one-time bonuses” for pensioners and students; and larger subsidies for credit card purchases. Still, the IMF insisted that the primary deficit target of 1.9 percent of GDP must be met.

Source: Bueno Aires Herald August 29, 2023 01:09 UTC