Publications

This year, the spring meetings of the International Monetary Fund (IMF) and the World Bank (WB) in Washington were characterized by noise. The biggest concerns remain the impact of tariffs on the economy and on financial assets, especially the dollar.

The International Monetary Fund (IMF) has just published its three flagship reports analyzing the state of play and policy recommendations on the economy (WEO), fiscal policy (Fiscal Monitor) and the financial environment (GFSR). Excellent readings with very elaborate recommendations.

This week the meetings organized each year by the International Monetary Fund (IMF) and the World Bank are taking place, just a few weeks after episodes of financial turbulence occurred.

At the meetings just held in Washington, the International Monetary Fund (IMF) has raised strong concerns over the rampant levels of inflation, the interest rate hikes that may be needed to keep it in check and the risk to the financial system, which has long been accustomed to low rates.

The deviations from the targets agreed with the IMF triggered a deterioration of expectations and the economic situation, deepened by political tensions. Economic activity will slow down more than expected in the coming quarters.

The government reached an enforceable agreement with the IMF, avoiding a default scenario. This is good news for Argentina, but its gradual approach does not change the overall macroeconomic scenario, nor does the absence of structural reforms create the conditions for a sustainable growth path.

National Corporate Financing Survey (ENAFIN 2018). The International Monetary Fund (IMF) updates its Global Financial Stability Report. Real estate services grow 1.3% in the first half of 2019.

The most frequently repeated words during meetings and conversations last week in Washington were: low growth, political interference, trade war, downside risk, negative rates, financial instability, green economy, uncertainty, unilateralism and fiscal policy.