IMF shows ‘yellow card’ to Argentina and threatens with the ‘red card’

September 25, 2012
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Christine Lagarde, head of the International Monetary Fund, said in a news conference in Washington that “the body shows ‘yellow card’ to Argentina for the quality of its statistics on growth and inflation, and could get the ‘red card’”.

According to private consultants ‘Argentina’s annual inflation is 24%, much higher than the official figure of 10%’.

The IMF still granted to Argentina until December 17, 2012. That date was arranged on September 17 at a meeting of the Executive Board of the organism, according to a press release reported that “Argentina has not fulfilled its obligations under the Agreement of the IMF.”

But the agency did not say what would be the action if Argentina does not fulfill the agreement.

The IMF only said, “At this time, the Executive Board will revisit this issue, and may consider additional steps depending on the response of Argentina, and in accordance with the procedures of the IMF.”