Argentina to Replace Bogus Inflation Index to Mend IMF Ties
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Argentina, seeking to rebuild relations with foreign investors, will unveil a new consumer price index this week that probably will acknowledge something the government has denied for seven years: that it systematically underestimated inflation.
The nationwide index released on Feb. 13 will replace the benchmark greater Buenos Aires index that has shown inflation at less than half the pace of private estimates since 2007, when former President Nestor Kirchner replaced senior staff at the statistics agency. The move comes a year after Argentina became the first nation to be censured by the International Monetary Fund for failing to report accurate economic data.