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Weekly Report - 18 July 2019 (WR-19-28)
ARGENTINA: Public finances improve but weaknesses remain
Argentina posted a primary fiscal surplus for the first half of 2019 for the first time since 2011. This has been held up as a sign that the economic adjustment undertaken by the government led by President Mauricio Macri is producing results and restoring macroeconomic stability. But other economic indicators show that the economy continues to exhibit imbalances and remains weak. Even the International Monetary Fund (IMF), which helped to devise the government’s adjustment plan and has provided significant financial support, has warned of the latent risks surrounding the economy, which could conspire against Macri’s re-election in October.
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