A read between the lines of the IMF’s Fourth Review of Argentina’s $44bn Extended Fund Facility suggests that the deal could be starting to fray at the seams. Meanwhile, the latest messaging from central banks in Chile and Colombia suggest that they have very different takes on inflation risks. But while we think the hawkish Chilean policymakers will probably turn to interest rate cuts relatively soon, the seemingly more relaxed Colombian central bank will probably have to re-assess its views given the strength of inflation pressures.
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