“An early debt operation, combined with reintroduction of capital flow management measures, could have delivered a more robust programme,” the report said.
BUENOS AIRES: The International Monetary Fund (IMF) says that a record US$56bil (RM236bil) programme for Argentina didn’t succeed “in improving confidence” and was “fragile from its inception” despite the size of the loan, and that both capital flow management and a private debt reprofiling might have been addressed back in 2018.
The staff report released Wednesday, known as “ex-post evaluation” and led by IMF deputy director Odd Per Brekk, is a key step in IMF procedures, which require a staff review of a programme with exceptional access.
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