IMF, World Bank visit Argentina for financial system checkup

BUENOS AIRES, March 5 Tue Mar 5, 2013 8:55pm EST

BUENOS AIRES, March 5 (Reuters) - Officials from the International Monetary Fund and the World Bank arrived in Argentina on Tuesday to evaluate the country's financial system as part of checkups agreed among Group of 20 nations, state news agency Telam reported.

Argentina belongs to the G20 and to the IMF, but in the last five years it has refused to allow the Fund to carry out routine annual evaluations of economic conditions for political reasons.

The center-left government blames IMF policies for precipitating the country's devastating 2001-02 economic crisis.

Officials may also have wanted to stave off criticism over the government's widely discredited inflation data, which the Fund censured last month.

The technical mission will stay in Argentina for two weeks, Telam said. According to the IMF's website, G20 countries agreed to undergo evaluations every five years under the so-called Financial Sector Assessment Program.

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