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...
Towards a New Nominality
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Towards a New Nominality
Third week
April 2022
Inflation of 6.7% is not only absurdly high, but it puts the economy at a new level of nominality from which it is not easy to get out and generates vicious circles. The dollar is already rising at a speed of more than 65% per year trying not to lose track of inflation so that the real exchange rate is not too misaligned. Much more so when there are no dollars in a Central Bank that also promised to accumulate reserves to meet the IMF's goal.