Economy & Business - May 2022

ARGENTINA | Economy minister claims IMF deal on track. After a meeting with International Monetary Fund (IMF) managing director, Kristalina Georgieva, on 22 April, Argentina’s economy minister, Martin Guzmán, said that the government’s debt restructuring deal with the Fund is on track. Despite concerns with Argentina’s runaway inflation, which surged 6.7% in March, bringing the 12-month figure to 55.1%, Guzmán spoke of “good progress” in fiscal areas – Argentina closed Q1 with a fiscal deficit of Ar$192.74bn (US$1.64bn), which the government says is within the target set in the IMF deal. “Our international reserves have grown, with the economic programme in line with planned. The economy continues growing firmly, creating jobs,” Guzmán was reported as saying after the meeting. Figures released on 21 April showed that Argentina’s economy grew 9.1% year-on-year in February, and 1.8% compared with the previous month.