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Transcript of a Press Conference by International Monetary Fund Managing Director Dominique Strauss-Kahn with First Deputy Managing Director John Lipsky and External Relations Director Caroline Atkinson Istanbul, Turkey
Friday, October 2, 2009

QUESTION: Thank you. Do you believe that the decision of Argentina not to accept a mission to accomplish an Article IV is in contradiction with G-20 mandate and your own advice for more collaboration among countries? And do you believe that this resistance comes from the past experience between the country and the IMF? Thank you.

MR. STRAUSS-KAHN: How do you know that Argentina does not want an Article IV? How do you know that your country does not want to have an Article IV? I had recent conversation with the Finance Minister, Mr. Boudou, and the President, Cristina Fernandez, and I think that we are making very nice step forward, so my hope is that in the near future we will be able to resume relationship, normal relationship with Argentina. So it may be the last time you are able to ask this question.

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Transcript of Press Briefing on the International Monetary Fund’s World Economic Outlook by Olivier Blanchard, Economic Counsellor and Director of the Research Department, with Jorg Decressin, Chief of the World Economic Studies Division, and Krishna Srinivasan, Chief of the Multilateral Surveillance Division
Istanbul, Turkey
Thursday, October 1, 2009

QUESTION: Two questions on Argentina. You mentioned in the WEO that Argentina will suffer the second worse recession in the Western Hemisphere after Mexico, if I am not wrong. In what ways you predict that forecast?

Second, you also mentioned that the government has created a Board of Academic Advisors to assess differences about the CPI results. The government just says that these Economic Advisors will not be able to change their results from the past, especially from 2007 to the present time, because no country did that. Do you expect more confidence about the CPI, given that restriction?

Thank you.

MR. DECRESSIN: On Argentina, the economy indeed experienced a steep fall. Activity, according to our estimates, declined by 2 1/2 percent in 2009. We are expecting a recovery to take hold, helped by the recovery of commodity prices, the rebound in external demand, and also stabilizing financial conditions. Thus, for 2010, we forecast growth of about 1 1/2 percent.

Now, we see significant positive growth only emerging in the course of 2010. In a number of other economies, we see such growth already emerging in 2009. With respect to your comments on the CPI, we welcome all efforts by all member states to improve their statistics, and we are very keen to learn as to what exactly the government is planning to do. Once we know more, then we will also have a clearer opinion.

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