MNI BRIEF: BOC Cutting To 3% Next Year, Ex Governor Dodge Says

MNI BRIEF: Output Gap Shut, Wage Growth Too Fast - BOE Greene

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JPMorgan on Latest Agreement With IMF

ARGENTINA
  • JPMorgan have highlighted that the latest IMF Staff statement praised the Milei administration’s front-loaded fiscal adjustment, calling it an ambitious stabilization plan, with the "authorities building social and political support" for it. The statement notes that "as policies are implemented and credibility is rebuilt, a gradual disinflation process should take hold, accompanied by a further strengthening in the external position, and an eventual recovery in output, demand, and real wages.”
  • JPM said the speedy negotiation could help to stabilize the parallel- official FX gap, which has been widening aggressively since the turn of the year. While details on the macro program are yet to be unveiled, JPM note that their current inflation estimates for 1H24 suggest a speedy appreciation of the real exchange rate, with accumulated inflation erasing the official FX devaluation by early second quarter. If JPM’s projected inflation profile pans out, a new re-calibration of the official FX would be required to secure the ability to accumulate reserves in 2H24, and thus phase out capital controls this year.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.