IMF Says Argentina Capital Flow Measures Needed With 2018 Deal
- Fund’s staff published evaluation of $56 billion stand-by deal
- Report said private debt reprofiling could have helped program
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The International Monetary Fund said that a record $56 billion program for Argentina didn’t succeed “in improving confidence” and was “fragile from its inception” despite the size of the loan, and that both capital flow management and a private debt reprofiling might have been addressed back in 2018.
The staff report released Wednesday, known as “ex-post evaluation” and led by IMF deputy director Odd Per Brekk, is a key step in IMF procedures, which require a staff review of a program with exceptional access.