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Brazil & Southern Cone - October 2015 (ISSN 1741-4431)

Government lashes out at IMF over weak forecasts

The International Monetary Fund (IMF) released its biannual World Economic Outlook report on 7 October, in which it predicted that Argentina would grow by just 0.4% this year, and would contract by 0.7% in 2016. The forecast contrasts with that released by the United Nations Economic Commission for Latin America and the Caribbean (Eclac), which issued a report a day earlier estimating growth of 1.6% both this year and the next. The World Bank, meanwhile, believes that Argentina will grow 0.7% this year and 0.9% the next. Unsurprisingly, the government seized on the Eclac assessment and excoriated the IMF prediction.

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