The International Monetary Fund published this Thursday the technical report (staff report) on the seventh review of the program that the organization's executive board approved on Wednesday. The IMF gives a general description of the Argentine situation and says that it expects that the adjustment plan and the initial devaluation of the Government will weigh heavily on demand and the economy will contract until a recession that could reach -2.8 GDP points.
They assure that the current account balance will have a surplus (more than 4 percentage points of GDP this year), supported by a rebound in exports.