IMF cuts Argentina ’24 growth forecast to 2.8%

Argentina 2024 economic growth is expected to see a 2.8 per cent contraction below the October estimate of 5.6 per cent, according to the International Monetary Fund’s (IMF) World Economic Outlook (WEO) report on Tuesday.

The report added that Latin America and the Caribbean 2024 growth prospects was revised down 0.4 percentage points to 1.9 percent, reflecting “negative growth in Argentina in the context of a significant policy adjustment to restore macroeconomic stability.

For emerging markets and developing economies, IMF said the growth was expected to remain at 4.1 per cent in 2024 and to rise to 4.2 per cent in 2025. An upward revision of 0.1 percentage point for 2024 since October 2023 reflects upgrades for several regions, it noted.