4 Feb 2013

IMF censures Argentina

8:29 pm on 4 February 2013

The International Monetary Fund has censured Argentina for failing to supply accurate economic data. It's the first time that the agency has taken such action against a member.

Particular concern is held over Argentina's inflation figures. Analysts have accused the government of under reporting inflation since early 2007 for political gain and to reduce payments on its debt, which is inflation-indexed.

But the IMF is distrusted in Argentina, with many people blaming it for the country's default and financial crisis in 2001.

The IMF says it will review progress in November, when sanctions could be imposed on Argentina.