Mon 17 Dec 2012

IMF inflation and growth deadline for Argentina

Argentine peso

Flickr-Alex E. Proimos

It is the final day for Argentina to provide reliable estimates on its growth and inflation according to a deadline set by the International Monetary Fund (IMF).

Argentina will face sanctions from the IMF if it fails to produce the data. The country was already given a 'yellow card' by the IMF head Christine Lagarde three months ago.

Moreover, the country could lose voting rights in IMF meetings and could even be expelled from the organization.

The IMF and Argentina have been in a row over the figures since last year. According to the Argentine government, the annual inflation in the country is currently 10 percent.

However, private economists have estimated that the actual annual inflation is about 24 percent. The economists say that the government has been ignoring the growing inflation.

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