
IMF chief Christine Lagarde. The drop in economic activity sheds doubt on the IMF projection of 0.4 percent growth.
Argentina's Statistics and Census agency, the Indec, announced Tuesday that economic activity contracted by 5.8 percent this May in comparison to the same month last year.
The report published by Indec also revealed economic activity decreased by 1.4 percent in comparison to April.
Reuters had projected an interannual contraction of 1.8 percent for May, and economic contraction is expected to deepen. Marco Peña, President Mauricio Macri's chief of staff, said Tuesday "the next months will me more recessive, cold and stormy."














Comment: Update July 26 - Houston Police Chief Art Acevedo reported that it is 'highly probable' the cardiologist was deliberately targeted when he was shot, however police are still working to establish a motive for the crime. The suspect is said to be a male of white or Hispanic origin and around 30 years old. He was wearing a baseball cap, gray jacket and khaki shorts, and rode a light-colored mountain bike.