International Monetary Fund Argentina Project And Its...

The International Monetary Fund Argentina Project and its problems and outcomes One project of the International Monetary Fund was a series of loans given to the country of Argentina in the 1990s through 2001. In the 1990s many investors and brokers looked to Argentina for investments as they rated its economy as one of the world s strongest (Blustein, 2003, Aug 3). It was at this time that Argentina first started to follow the International Monetary Fund formula for economic stabilization in development including reducing budget in balance of payment deficits, raising interest rates, reducing inflation, privatizing state assets, and reducing trade barriers and regulation on capital flows in and out of the country (Paddock, 2002, p. 158). These policies helped reduce the hyper-inflationary levels that Argentina had reached during the 1980s. This positive outlook may have prevented a needed change in the economic policies when the effects of the Mexican peso crisis in 1995 placed Argentina s economy in a brief recession. It wasn t until 1998 that Argentine po licymakers discussed the country s finances with a senior official of the International Monetary Fund who sounded the alarm that the country might be headed for an Asian style melt down. However despite the warning significant economic changes were not made, in part due to the confidence that money could be easily acquired from the International Monetary Fund (Blustein, 2003, Aug 3). In 1999 the financialShow MoreRelatedThe Crisis Of Bolivia As Economy1661 Words   |  7 Pageshas now an accumulated valuable amount of rainy-day fund of foreign reserves. Ana Corbacho, the International Monetary Fund’s chief of mission said of Bolivia’s growth: â€Å"Bolivia has in a way been an outlier. 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