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Argentina - Economic memorandum (anglais)

This report focuses on a new stabilization strategy in Argentina, which simultaneously attempts to reduce the rate of inflation and to induce the modernization and restructuring of the economy. The program relies on supply-increasing rather than demand-reducing policies on the one hand, and eschews direct price controls on the other. The 1979 program consisted of: predetermined schedules for adjustment at declining rates of; (i) exchange rates, (ii) prices of fuels and public sector services, (iii) wages, and (iv) monetary resources of internal origin; combined with ; (v) a five-year tariff reduction program, and (vi) the formal reopening of the capital market to international transactions. Foreign competition was to reduce the rate of domestic price increase of tradable goods to the level determined by the rate of depreciation of the peso. Monetary and fiscal policies have a lesser role than exchange rate and tariff policies. This policy is beginning to take hold, and will be continued in 1980. However, several potential medium-term problems warrant further consideration by the authorities. This report's discussion of the strengths and weaknesses of the current approach helps assess the program's chances for success.

Information

  • Date du document

    1980/07/31

  • Type de document

    Rapport économique ou sectoriel antérieur à 2003

  • Numéro du rapport

    2988

  • Volume

    1

  • Total Volume(s)

    1

  • Pays

    Argentine,

  • Région

    Amérique latine et Caraïbes,

  • Date de publication

    2010/06/12

  • Disclosure Status

    Disclosed

  • Titre du rapport

    Argentina - Economic memorandum

  • Mots clé

    inflation;exchange rate;Exchange Rates;rate of inflation;mobility of factors of production;balance of payment;positive real interest rates;capital market development;wholesale price index;population per hospital bed;public sector investment program;Oil and Gas Sector;fixed exchange rate regime;deteriorating terms of trade;fixed exchange rate policy;wage and price control;capital market to international;foreign exchange rate;mlt borrowing;real rate of exchange;loss of employment opportunity;consumer price index;rate of devaluation;Exchange rate policies;exchange rate devaluation;Foreign Exchange Reserve;public sector price;wage increase;relative price;current account balance;production and export;domestic price;stabilization effort;current account surplus;reduction of inflation;public sector deficit;cost of living;high inflation rate;current account deficit;tariff reduction;reduction in tariffs;cost of credit;cost of construction;withdrawal of deposit;Access to Electricity;adult literacy rate;primary school enrollment;gnp per capita;gross national product;average exchange rate;per capita gnp;allocation of resource;population per physician;price of fuel;public sector service;rate of depreciation;increased import competition;per capita income;international trade policy;domestic interest rate;external capital flows;traditional export sector;real wage decline;foreign exchange crisis;real economic growth;public sector personnel;high export taxes;nominal interest rate;exchange rate adjustment;public sector saving;domestic private bank;equilibrium exchange rate;water and electricity;private sector response;exchange rate appreciation;demand for credit;private sector wage;local government participation;public investment expenditure;foreign trade policy;increasing tax revenue;prices of import;foreign exchange assets;public debt service;total debt service;private external debt;reduction of cost;interest rate differential;external public debt;international capital market;world financial market;efficient resource allocation;world export market;fiscal policy;price stabilization;Fiscal policies;stabilization program;wage policy;industrial sector;aggregate demand;

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