Argentina: Ex-Post Evaluation of Exceptional Access Under the 2018 Stand-By Arrangement-Press Release and Staff Report
Ex-Post Evaluation of Exceptional Access Under the 2018 Stand-By Arrangement-Press Release and Staff Report
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Volume/Issue:
Volume 2021
Issue 279
Publication date: December 2021
ISBN: 9781616357993
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Topics covered in this book
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fund policy , policy choice , Argentina program , IMF arrangement , IMF financial support , government ownership , policy space , Inflation , Inflation targeting , Exchange rates , Fiscal consolidation , Global , Caribbean
Summary
On June 20, 2018, the Executive Board approved the largest stand-by arrangement in the Fund’s history, in support of Argentina’s 2018-21 economic program. After an augmentation in October 2018, access under the arrangement amounted to US$57 billion (1,227 percent of Argentina’s IMF quota). The program saw only four of the planned twelve reviews completed, and did not fulfil the objectives of restoring confidence in fiscal and external viability while fostering economic growth. The arrangement was canceled on July 24, 2020.
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