Bad news from Argentina: The government has been tampering with inflation statistics for several years (publishing official rate as 8 percent compared to independent estimates greater than 20 percent). Now it is imposing big fines ($100,000) on private consulting firms and individuals producing private estimates. And where is the IMF on this issue? In deference to its member Argentina it publishes the official estimate with a footnote suggesting private estimates are much greater. More background (in Spanish) can be found here.Can the G20 do better than the IMF? Why is Argentina in the G20 anyway – it fails the 2 percent test proposed by Ramachandran, Rueda-Sabater, Kraft in this paper.
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