Case For An Easier Debt Deal?

May 2004 | Market Strategy

The outturn for tax receipts in April was spectacular by Argentine standards with revenues having increased by 30% y-o-y to ARS7.048bn. Returns were bolstered by stronger-than-expected economic growth according to the government. Apart from a sharp rise in sales tax receipts, other factors underpinning the improvement in collection were a clampdown in evasion and a pick up in trade-related revenues. The dramatic improvement for tax revenues is of course a doubled-edged sword for the government. On the one hand, it proves that the economy is ticking along nicely and that more resources are potentially at its disposal to improve social

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