Argentina: Staff Report for the 2002 Article IV Consultation
Volume/Issue:
Volume 2003
Issue 226
Publication date: July 2003
ISBN: 9781451801361
$20.00
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Topics covered in this book
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Business and Economics , Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , government , expenditure measure , poverty indicator , foreign exchange restriction , bullet , government of Argentina , U , S , dollar , contingency fund , financing gap , Currencies , Fiscal stance , Eastern Europe , Western Europe , Africa
Summary
Domestic and external factors combined to bring about the loss of confidence in Argentina that triggered the debt default and the crisis. Restoring confidence in legal certainty has been a major challenge for Argentina. The fiscal program is centered on maintaining tight control over primary spending and rebuilding the tax administration. A key outstanding issue is to close the estimated fiscal and external financing gap. The fiscal effort required to sustain the public finances in the medium term will require the adoption of major structural reforms.
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