Weekly Report - 17 March 2022 (WR-22-11)

ARGENTINA: Fernández declares “war” on old foe

Argentina’s President Alberto Fernández declared a “war on inflation” on 15 March after the national statistics institute (Indec) revealed that the annualised figure had pushed up to well beyond 50% in February. The Indec figure laid bare the improbability of the inflation target for 2022 contained within the debt restructuring agreement signed with the International Monetary Fund (IMF), which is working its way through congress, especially as the rolling back of energy subsidies will create more inflationary pressure.

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