IMF's Christine Lagarde says Argentina faces 'red card'

Ms Lagarde gave Argentina until 17 December to address the problem.

The IMF head said the fund had given Argentina a "yellow card" but it could face a red.

Private economists say annual inflation in Argentina is at 24%, much higher than the official 10% figure.
"We had to choose between the yellow card and the red card. We chose the yellow card. If no progress has been made, then the red card will be out," she said.

Speaking in Washington, Ms Lagarde said Argentina had been given three months to provide reliable estimates on growth and inflation.

'Free country' Analysts in Buenos Aires say the IMF has been adopting tougher language towards the government of President Cristina Fernandez de Kirchner.

The IMF and Argentina have been at odds over the figures since last year.
Private sector economists say the government has ignored the growing pace of inflation.

 

 

Last year, the authorities introduced measures restricting the purchase of US dollars.