IMF Says Argentina’s Drought Is Worse Than Expected for Growth
- Western Hemisphere director says drought impact is worsening
- Fund expects monthly inflation to slow to 80% later this year
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Argentina’s worst drought on record is taking a more severe-than-expected toll on growth, but food prices will be affected only temporarily, according to the International Monetary Fund.
“The more data we see, the more serious that shock seems to be on the country,” Nigel Chalk, acting director for the Western Hemisphere at the fund, said in an interview on Thursday.