We examine a large panel of more than 100 banks from Argentina to study the effects of bank consolidation on performance between December 1995 and December 2000, a period of heavy bank consolidation and relative calm. Overall, we find a positive and significant effect of bank consolidation on...

In 1999, the economy of Argentina was affected owing to recession. More than half of the external account deficit was financed by net foreign direct investment. The public finances deteriorated in 1999, reflecting the impact of the recession on tax revenue, a weakening of tax compliance, a...

The financial system in Argentina experienced substantial changes. Capital adequacy and liquidity indicators are strong in the Argentine banking industry, whereas profitability indicators are weak. The current system of mandatory health care for salaried employees is built around institutions...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

This paper examines Argentina’s Second Review Under the Stand-By Arrangement and Requests for Modification and Waiver of Performance Criteria. The economy is recovering rapidly, while inflation remains subdued. Strengthening consumer and business confidence and cautious monetary and fiscal...

Argentina’s First Review Under the Stand-By Arrangement and a Request for Waiver of Nonobservance and Applicability of Performance Criteria are reviewed. Favorable conditions allowed a further strengthening of the external position, though external arrears continued to increase. Congress has...

This 2005 Article IV Consultation highlights that Argentina’s economy has rebounded strongly from the financial crisis in late 2001. Reflecting buoyant domestic demand, real GDP grew close to 9 percent in both 2003 and 2004, bringing real output level back to the peak level achieved prior to...

The responsible conduct of macroeconomic policies has continued with the new government. These policies have been key to stabilizing the economic situation and improving growth prospects. Maintaining budgetary control to stimulate the economy and step up social and infrastructure spending is the...

The transitional program is broadly on track and quantitative program targets have been met, but structural reforms have been delayed. There are still risks to revenues and expenditures from possible judicial decisions, and the fiscal program may need to be adapted for changes in the...

Good progress has been made in stabilizing the economic and social situation since the crisis. Fiscal adjustment over a prolonged period will bring the public finances to a sustainable path. To protect social expenditures and allow higher public investment, a comprehensive tax reform is...