IMF: Argentine Economy to Fall 11.8 Percent in 2020 but Rebound 4.9 Percent in 2021

Argentina is in the middle of negotiations to reach a new agreement with the Fund, and a mission of the agency was in the country recently, analysing the fiscal situation.

RIO DE JANEIRO, BRAZIL - The International Monetary Fund (IMF) forecasts that the Argentine economy will fall by 11.8 percent this year, and rebound by 4.9 percent in 2021, the credit agency announced. This was stated in the Economic Outlook Report (WEO) called “A long and difficult road uphill”, where as a result of the pandemic it estimated a fall in world GDP of 4.4 percent and a recovery of 5.2 percent by 2021.

The global projections are slightly more encouraging than last June, when the world economy was projected to shrink by 4.9 percent. However . . .

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