As expected, the Fund's Board of Directors approved the review of Argentina's program, although it made it clear that Massa failed to meet all goals. The IMF applauds the fiscal effort promised by...
The fiscal target of next year could be overachieved
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The fiscal target of next year could be overachieved
Fourth week
August 2018
The government’s fiscal target set in the program with the IMF requires to decrease the primary deficit from 2.7% of GDP this year, which we consider will be met without difficulties, to 1.3% of GDP in 2019. This represents a fiscal effort of 1.4 points of GDP for next year, greater than the 1.1 effort made this year. It will be the most important one of the last 15 years in cash basis, and it will take place precisely in a year of presidential election. This is a great challenge for the government, who is very committed to its achievement. This target is the most important one for the IMF program, and it is what markets will be monitoring closely.