IMF sees censure on Argentina being lifted after data 'progress'

(Reuters) - The International Monetary Fund said on Wednesday that it would "be in a position" to lift its censure on Argentina later this year after recent changes the country has made to the way it reports official economic data.

Since taking office in December, President Mauricio Macri has overhauled Indec, the national statistics agency that was widely accused of publishing inaccurate data under former leader Cristina Fernandez.

The way data for gross domestic product and inflation is measured has been revised this year, with a revamped consumer price report published in June for the first time.

The Indec overhaul - which saw many former section directors fired - was seen as a crucial step in Macri's efforts to open Argentina to investment.

"The executive board noted the authorities' extraordinary efforts and important progress made in strengthening the accuracy of Argentina's statistics," the IMF said in a statement, following a meeting of its executive board.

It said "more information was needed" for a full assessment of the new inflation index, but added that it "would be in a position" to lift its censure by November.

The IMF had censured Argentina for reporting unreliable data in 2013.

(Reporting by Rosalba O'Brien; Editing by Bill Rigby, Bernard Orr)

You May Also Be Interested In

• North Korea, Belarus deputy foreign ministers agree to strengthen ties
• Stocks sink, oil surges on reports of Middle East attacks
• Instant view: Oil, Japan's yen up on reports Israeli missiles hit Iran