Argentina

Inflationary pressures are building in Argentina and there is room for further interest rate increases, a senior IMF official said Oct. 17. “Interest rates remain negative in real terms. We think there is room for further monetary tightening,” Charles Collyns, deputy director of the IMF’s research department told a news conference. Collyns said it is difficult to make projections on inflation in the South American country, since it is not “completely a free market.” (Reuters)