Services
Reports
We offer reports on the Argentine economic and financial situation, focused on key aspects such as the level of activity, fiscal accounts, inflation, interest rates and exchange rates.
Presentations
We make in-company presentations on the Argentine and international economic situation, adjusting to the client's needs.
Consultations
We are available for specific queries from our clients on current issues via phone or email.
Forecasting
We prepare detailed long-term economic forecasts and alternative scenarios for budgeting and decision making.
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Last Reports
Since the Milei administration took office, a fierce debate has opened up regarding the future of industry and employment. On one side are those arguing that the economic program is causing an “industricide” and higher unemployment, pressing for the economy to remain protected. On the other side are the free-market fundamentalists who lean towards the idea of leveraging comparative advantages.
Comprando tranquilo. El Banco Central logra sumar reservas mientras el tipo de cambio se mantiene a raya. En lo que va de enero ya acumuló US$ 822 millones, en un mercado que finalmente aflojó la presión alcista. El bajo volumen operado sugiere que gran parte de las compras se habrían realizado en bloque por fuera del MULC. Juegan a favor las colocaciones de deuda privada, una mejora en la liquidación del agro y una menor demanda de cobertura, disciplinada a fuerza de tasas altas. Por ahora, el riesgo país no logra consolidar la baja, castigado principalmente por el mal humor externo.
Feo dato de inflación. El 2.8% de diciembre estuvo por encima de lo esperado y encendió alguna luz amarilla. Si bien sabemos que el proceso de desinflación no es lineal, y que la inercia juega un papel más fuerte cuando la inflación no es tan alta, la realidad es que los precios se aceleraron por séptimo mes consecutivo. Desde el paso al esquema de bandas, el tipo de cambio dejó de funcionar como ancla nominal, y la política monetaria no ha sido lo suficientemente robusta para coordinar expectativas. Esa falta de un ancla clara es, hoy, lo que más ruido hace de cara al futuro. De todos modos, esperamos mejores números para los próximos meses y una inflación cercana a 25% para todo 2026.
When it was announced in December that the Central Bank would begin accumulating reserves in 2026, many of us were skeptical. The government had consistently missed this explicit target within the IMF program throughout last year and had operated on the edge regarding the external front—to the point of needing a “Trump bailout” to avoid a collapse on the road to the elections.
A new year begins with many challenges but also with hope. Fortunately, it starts with an approved Budget Law and a good chance of moving forward with labor reform. Also, as expected, debt payments were made, providing some peace of mind. However, the challenges remain significant: taming an inflexible inflation rate, ensuring the recovery reaches more sectors and boosts consumption, dropping the country risk by another 100 points to return to the markets at reasonable rates, increasing reserves, and finally lifting capital controls.
Articles
Más rápido de lo que muchos economistas esperaban, el Gobierno va consolidando su objetivo de cerrar el año con déficit fiscal cero, mejora de las cuentas del Banco Central, y camino a la tasa de inflación de un dígito porcentual….
About Us
Graduate in Economics from the University of Buenos Aires and Ph.D. in Economics from Columbia University. Professor and researcher at the Di Tella University and academic advisor at FIEL
With vast experience as an advisor to multilateral organizations such as the IMF, the World Bank and the Inter-American Development Bank, as well as several Latin American countries, he held prominent roles in the financial sector, including the presidency of Banco Hipotecario S.A. and functions in the Ministry of Economy and the Central Bank of the Argentine Republic.
He was an Assistant Professor at the University of Maryland, and taught at institutions such as CEMA, Georgetown University, and Columbia University.
He is a columnist and author of numerous articles in international publications. Author of the book “The Argentine economic crisis, a history of adjustments and imbalances” with Sebastián Kiguel.
Graduate in Economics from the University of Buenos Aires and MSc in Economics from the University of Warwick (UK).
He was an economic consultant at the Inter-American Development Bank (IDB) and at Econviews. He also served as an advisor at the Ministry of Economy and the Ministry of Transport of Argentina.
Alejandro Giacoia
Economist
Bachelor of Economics (UBA).
Pursuing a Master’s Degree in Finance (Di Tella)
Pamela Morales
Economist
Bachelor of Economics (UCEMA).
Associate Professor of Macroeconomics UCEMA
Rafael Aguilar
Economist
Bachelor of Economics (UBA).
He was an assistant in the UBA National Accounts chair
Leila García
Economist
Bachelor of Economics (UBA).
Assistant in the UBA Argentine Economic History