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ARGENTINA: Caputo Says IMF Funds Would Accelerate Push To Lift Capital Controls

ARGENTINA
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  • Speaking at a business event in Sao Paulo earlier, Economy Minister Caputo said that were the government to be successful in negotiating a new programme with the IMF, it would surely include a fresh injection of funds which would boost central bank reserves and certainly accelerate the push to lift capital and FX controls.
  • For now, Caputo reiterated that controls would be lifted next year, without specifying when, and that the crawling FX peg would slow as inflation continues to ease. He said that the economy is expected to shrink by 2.8% this year, before rebounding strongly next year. For reference, analysts see GDP falling by 3.6% this year, according to the latest BCRA survey, before rebounding by 3.6% in 2025.
  • The next BCRA analyst survey will be released on Thursday. As a reminder before then, government tax revenue figures are due to be published later today.
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  • Speaking at a business event in Sao Paulo earlier, Economy Minister Caputo said that were the government to be successful in negotiating a new programme with the IMF, it would surely include a fresh injection of funds which would boost central bank reserves and certainly accelerate the push to lift capital and FX controls.
  • For now, Caputo reiterated that controls would be lifted next year, without specifying when, and that the crawling FX peg would slow as inflation continues to ease. He said that the economy is expected to shrink by 2.8% this year, before rebounding strongly next year. For reference, analysts see GDP falling by 3.6% this year, according to the latest BCRA survey, before rebounding by 3.6% in 2025.
  • The next BCRA analyst survey will be released on Thursday. As a reminder before then, government tax revenue figures are due to be published later today.