Argentina given 'red card' by IMF's Christine Lagarde

  • International Monetary Fund (IMF) chief Christine Lagarde has warned Argentina it could be hit with sanctions if it fails to produce reliable growth and inflation data.

    Speaking in Washington on Tuesday, Lagarde said Argentina had until December 17 to address the issue. She added that the IMF had given Argentina a "yellow card" and could face a red.

    According to economists, annual inflation in Argentina currently sits at 24 percent, much higher than the official 10 percent figure.

    The IMF and the government of President Cristina Fernandez de Kirchner have repeatedly disputed the figures over the past year.

    If Argentina fails to meet IMF’s demands, it could face sanctions, lose voting rights and even be expelled from the organization.

    Fernandez, who is in New York this week for the United Nations General Assembly, has previously rejected claims that her country is on the brink of economic disaster.