Sun, Feb 03, 2013 - Page 13 News List

IMF censures Argentina over its data

NOT ACCURATE:The IMF board said that Argentina’s implementation of ‘remedial measures’ has been under par, and its data on growth and inflation were not correct


The IMF may take further sanctions, such as declaring the country ineligible to use the fund’s general resources and suspending its voting rights. “Compulsory withdrawal” is the last step of the procedure, which leaves time between each decision for the country to address concerns.

According to the fund, Czechoslovakia is the only country ever ousted from the IMF for breaching the same rule, while Cuba withdrew in 1964. The procedure that has censure as a prior step did not exist then.

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