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...
Latam 8 June 30
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Latam 8 June 30
Economic activity is evolving with ups and downs since the beginning of the year. In February it grew 1.1%, in March it fell again 0.8% and in April it recovered 0.6%. Year-on-year positive rates are observed but it is mainly because of the low comparison base. In the accumulated of the year the economy grew by 5.7% y/y but we must remember that in this period of 2021 there were sanitary restrictions. The most dynamic sectors were Hotels and Restaurants (35% y/y), Fishing (15.9%), and Mining (14.3%). Manufacturing and Construction, two of the most important activities grew 4.8% and 3.8% respectively. With a statistical carryover of more than 4%, we expect that real growth will be 3.5% in 2022.