Itaú BBA - Macro Scenario – Argentina: Deal with IMF punted to 2021

Macro Latam

< Back

Macro Scenario – Argentina: Deal with IMF punted to 2021

December 11, 2020

Macro outlook remains challenging.

For the version with all charts and tables, please open the attached pdf file

• 
Minister Guzman downplayed the possibility of an imminent agreement with the IMF.

• International reserves continue to decline due to interventions, payments to multilateral organizations and lower gold prices.
• Recovery of activity was stronger than expected in 3Q20 following the easing of lockdowns. We revised our GDP growth forecast upward for the year to -11%, from -12% in our previous scenario. For 2021, we still expect modest 4.5% growth, as exchange rate controls and a decline in confidence will likely remain a drag on the economy.

João Pedro Bumachar
Juan Carlos Barboza
Diego Ciongo


For the version with all charts and tables, please open the attached pdf file



< Back