Towards a New Nominality

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Towards a New Nominality

Third week
April 2022

Inflation of 6.7% is not only absurdly high, but it puts the economy at a new level of nominality from which it is not easy to get out and generates vicious circles. The dollar is already rising at a speed of more than 65% per year trying not to lose track of inflation so that the real exchange rate is not too misaligned. Much more so when there are no dollars in a Central Bank that also promised to accumulate reserves to meet the IMF's goal.