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IMF Complete Fourth Review, Allowing For $5.4B Disbursement

ARGENTINA
  • The International Monetary Fund released a full statement on Saturday, detailing that the Executive Board of the International Monetary Fund completed the fourth review of Argentina’s 30-month EFF arrangement, allowing for an immediate disbursement of about US$5.4 billion.
    • Downside risks to the country’s economic outlook have increased, warranting a need for more central-bank rate increases “in the event of further inflation shocks” or currency pressures, IMF First Deputy Managing Director Gita Gopinath said Saturday. Argentina needs a “stronger policy package,” including potential changes to currency policies, she said in a statement.
  • Today, the economy ministry will publish tax revenue data for March after reporting revenue of 2.13 trillion pesos in February.
  • Construction activity and industrial production are the only domestic data points this week.

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