Experience and knowledge

to understand the economy and enhance finances

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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

The Long and Winding Road to the Elections

Another turbulent week has passed in Argentina. There are two months left until the general elections, and just two weeks until the Buenos Aires provincial elections. Until then, noise and volatility will likely remain the main characters. Politics is playing its game, but on the economic front the field has also been muddied.

Midweek 21 de agosto de 2025

Caos en la política monetaria. A esta altura no quedan dudas de que el esquema posterior al fin de las Lefis no está funcionando. Las idas y vueltas con los encajes, las licitaciones sorpresa y las intervenciones ad hoc en el mercado de pesos no hacen más que erosionar la credibilidad del programa y sumar volatilidad. Seguimos convencidos de que la mejor salida sería implementar un corredor de pases que devuelva estabilidad al mercado, pero el Gobierno insiste en soluciones alternativas que no terminan de resolver el problema. La volatilidad, por ahora, se mantiene.

Disinflation, but at What Cost

Argentina is managing to bring inflation down, but only through a monetary squeeze whose sustainability is highly uncertain. Last week once again highlighted the erratic and opaque management of monetary policy. In theory, the Central Bank follows a quarterly target for monetary aggregates (transactional private M2). In practice, however, policy has been discretionary, with the sole aim of keeping both the exchange rate and inflation under control.

midweek 7 de agosto de 2025

Un poco de pax cambiaria. Después de subir abruptamente la semana pasada, el tipo de cambio se estabilizó en un nuevo nivel cerca de los 1,340 pesos. Lo que preocupó no fue el nivel que alcanzó, sino la velocidad de la suba. De hecho, en buena parte de julio había escalado casi 9% de manera gradual, sin impacto relevante en precios ni en los bonos hard dollar. Desde nuestra perspectiva, este nuevo nivel luce más razonable para una economía como la argentina, y debería mantenerse calmado en el corto plazo.

What Exactly Are the “Structural Reforms”?

Everyone says that after the elections, “structural reforms” will arrive. The government repeats it, the market expects it, and the IMF demands it. But if you ask what concrete measures are actually being considered, the answers are vague and generic. It seems there has been more progress on tax reform, some ideas on pension reform, and very little clarity regarding labor reform.

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

Miguel A. Kiguel

Ph.D. en Economía

Director

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.

Kevin Sijniensky

Master in Economics

Chief economist

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

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