IMF cuts Argentina’s 2021 growth estimate to 4.5%

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(Buenos Aires Times)

Fund predicts strong economic rebound across the globe, but trims forecast for local economy by 0.4%.

The International Monetary Fund has trimmed its 2021 growth forecast for Argentina, predicting the economy will grow by 4.5 percent this year.\

Previously, the multilateral lender had estimated growth of 4.9 percent this year, but the challenges of the Covid-19 pandemic and the fiscal constraints facing the country persuaded IMF officials to lower their forecast. 

The prediction, issued as part of the IMF’s World Economic Outlook report this week, ran contrary to the improved outlook for Latin America and the Caribbean, which the Fund said would grow by 4.1 percent this year – a rise of 0.5 percent from previous predictions. According to the report, the region’s economy contracted by 7.4 percent last year.

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