The IMF asked Argentina to complete its obligation of having reviewed its economy by the entity
It is the first time that the Monetary and Financial Committee (IMF), which represents all countries requested them to fulfill their obligation to have reviewed their economy by the entity but Argentina and Venezuela refused.
Argentina’s government did not allow the agency to conduct the review of its economy since 2006, after it canceled its debts to the state, despite that countries must themselves submit to it annually.
According to sources of the Fund the other country in the world that refused is Venezuela.
Nicolás Eyzaguirre, director of the IMF in America, stressed “the importance of the process, after meeting with the Argentine Economy Minister, Amado Boudou.”
Eyzaguirre stated that “the crisis has demonstrated the interdependence of some countries on others and to know the state of the economy of a nation is particularly important if it belongs to the G-20, as it is the case of Argentina.”
He further explained that “If I do not have complete information on policy and developments of a country that is among the countries of importance to the system (global economic) it decreases the ability of others to design their policies in the best way possible”.
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