IMF Urges Argentina to Fix Inflation, GDP Data Within Six Months |
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February 2, 2012
The International Monetary Fund urged Argentina to improve its consumer price and economic growth data, which economists say underestimates one of the fastest inflation rates in the world.
The IMF yesterday criticized the “absence of progress” shown by Argentina in improving its statistics. President Cristina Fernandez de Kirchner’s government needs to undertake specific steps to ensure that it meets “the obligations of all member countries to provide accurate data” within 180 days, the Washington-based lender said.
Argentine consumer prices rose 23 percent last year, the most among the Group of 20 nations, according to opposition lawmakers who base their estimates on reports by economists facing fines of 500,000 pesos ($115,000) for questioning the government’s data. The national statistics agency said prices climbed 9.5 percent in December from a year earlier.
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