Monthly

Monthly Reports

An IMF program that nobody likes but everybody needs

March 2022
The IMF program was finally approved by Congress, though at a heavy cost for the government because Cristina and the Campora opposed it.  Fernández had to rely on the opposition for the approval in Congress and had a setback regarding the law because the opposition was only willing to vote for the new IMF finan...

Difficult political and economic scenarios condition the IMF agreement

October 2021
The defeat in the primaries marked a before and after for the government coalition. There were important changes in the cabinet and the tensions within the government became apparent. There are different visions about what to do in the economic front. On one side we have the more radical wing (led by Cristina Kirchn...

The elections, the economy, and the inevitability of the adjustment

September 2021
The results of the primary elections (PASO) were surprising. Mainly because the government lost by ten percentage points at the national level and in the crucial province of Buenos Aires by almost five percentage points.  If the results end up being similar in the actual mid-term elections on November 14th, it ...

The economy and the elections: playing poker with no aces?

July 2021
The electoral calendar is moving ahead, and soon we will know the candidates for the primaries that will take place on September 12th.  These elections are important. They should decide whether the government can get closer to having a majority in the Lower House, a situation that would allow to pass laws in Co...

A Soft Transition to the Elections: The Calm That Precedes the Storm?

June 2021
It seems that the government has enough instruments to maintain key economic variables under control until the elections.  The official exchange rate should be manageable and avoid a steep devaluation, the government should be able to rollover the domestic debt, inflation could remain within predictable bounds ...