Political Risk Latin America Blog @PolRiskLatam

IMF assessing quality of Argentina’s economic data reporting

Posted in News and Articles, Political Risk by politicalrisklatam on July 15, 2011

by Merco Press News, July 14th, 2011.

IMF said on Wednesday that it is assessing the quality of Argentina’s reporting on economic data based on a report presented by the fund’s management which recently visited the country member.

“Given the obligations of all member countries to provide accurate data to the IMF, on July, 13 2011, the Executive Board met to consider a report presented by Fund management on the quality of reporting by Argentina of its official data on Consumer Price Index for Greater Buenos Aires (CPI-GBA) and Gross Domestic Product (GDP)”, said the short release from the Fund’s headquarters.

The credibility of Argentina’s data, especially inflation, has been questioned ever since former President Nestor Kirchner replaced long-serving staff at the national statistics agency Indec with political appointees in 2007. Almost overnight, official data started to diverge from private sector estimates.

The IMF executive board said it welcomed a commitment by the Argentine authorities, working with IMF staff, to improve the quality of the country’s reporting of inflation and growth data and bring them into compliance with fund rules. (continue reading… )

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