What if There is No Agreement with the Fund?

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What if There is No Agreement with the Fund?

Second week
January 2021

For a long time, our baseline scenario has been that Argentina reaches an agreement with the International Monetary Fund around March or April. Today the chances that this agreement is delayed until 2022 or at least until the legislative elections of October have grown. There are two main reasons for this. The positive shock derived from the better agricultural commodity prices has given the government degrees of freedom that it did not have before. Second, the political dynamics itself causes priorities to change.