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The World Bank joins a long line of experts criticising Argentina’s lack of fiscal management

Argentina needs an “urgent change of direction” and better relations with financial markets if its economy is to recover medium term. The Argentine economy needs an urgent change of course which would have the effect of reestablishing normal relations with the financial market, a crucial step to open a maneuvering space in an ever more complex environment, suggested Augusto de la Torre, World Bank chief economist for Latin America. Without giving more details De la Torre simply said that “humbly speaking…

Can Argentinas decrease in growth rate actually help the economy?

The World Economic Outlooks report forecast figures for Latin American growth rate were brought down by the IMF on Tuesday to 2.7%. The Chief Economist for the World Bank’s Latin America and Caribbean Office, Augusto de la Torre said that Argentina is above Latin America and Caribbean countries average in terms of growth this year with a combined estimate of 2.5% for the region. Cristina Kirchners administration optimistically forecast 6.2% for this year. However according to the 2014 Budget both institutions…