Monthly

A shift in Exchange Rate Policy?

July 2006

The most recent economic indicators continue to show that the economy maintains its strength and that growth this year will be at least 7.5%. Industrial production increased by 0.9% in June and accumulates a rate of growth of 8.9% in the last twelve months; construction grew 2% in June and almost 24% in the las...

A balance of three years of Penguinomics

June 2006

The first three years of the Kirchner administration have been a combination of unconventional economic policies and a unique management style on the one hand and a very solid economic expansion that has exceeded most analysts’ expectations on the other. This strange combination of unconventional policies and s...

The new reality of the banking system

April 2006

The banking system is back in business and it has left behind most of the adverse effects of the 2001/02 crisis. Banks are focusing on their core business and this is started to be reflected in higher volumes of financial intermediation, as lending to the private sector has increased by 14,4 billion pesos, wh...

When Beef meets Macro

March 2006

The economic outlook remains positive, as growth continues and consumer confidence remains high. We continue to expect a slow deceleration of the economy, but very gradual and with a forecast of 7% increase in GDP for this year. The mixed indicators of economic activity in January do not indicate a change in tr...

A calm beginning for 2006

February 2006

The year 2005 ended with lots of excitement on the macroeconomic front. Minister Lavagna was fired and replaced by Felisa Miceli, the government paid back the IMF in what looked as a challenge to the holdouts and the bondholders that accepted big discounts in the debt swap, while the peso depreciated to the low...

Argentina: Highlights of 2005 and the Outlook for 2006

January 2006

In many ways Argentina had a great economic performance in 2005. It restructured the public debt, the economy grew one more time at around 9% per year achieving one of the highest rates of growth in the region, investment increased by 20%, exports reached a historical high level growing by 15% mainly thanks to ...

Perspectives on the Monetary Program and the External Sector

December 2005

Strong economic indicators still but questions about the future. The recent changes in the Ministry of the Economy take place at a time when the economy is showing a strong growth performance and very robust macroeconomic fundamentals (such as the large budget and current account surpluses). Growth this year i...

Another look at Inflation

October 2005

The economy is now reaching a point where high growth could be seen as a mixed blessing. What used to be good news it is now becoming a boomerang as it is increasing the inflationary pressures. And this is happening when inflation is running at 12% per year, without showing any signs of receding and with a larg...

…and the Economy Keeps Growing…

September 2005

The Argentine economy regained some growth momentum in the second quarter. GDP growth increased to 10.1% (Q205 to Q204), while investment provided the largest surprise as it increased by 24.1%. This is good news for unemployment, consumer confidence and fiscal revenues just as we are getting close to the electi...

What’s Behind Inflation

August 2005

Exchange rate policy and inflation continue to be one of the most difficult policy issues at this time. The government is determined to maintain the exchange rate in the 2.9 to 3.0 pesos range, and to sterilize the increases in money supply by issuing Lebacs in order to avoid an increase in inflation. The main c...

Monthly Reports

A shift in Exchange Rate Policy?

A shift in Exchange Rate Policy?

A balance of three years of Penguinomics

A balance of three years of Penguinomics

The new reality of the banking system

The new reality of the banking system

When Beef meets Macro

When Beef meets Macro

A calm beginning for 2006

A calm beginning for 2006

Argentina: Highlights of 2005 and the Outlook for 2006

Argentina: Highlights of 2005 and the Outlook for 2006

Perspectives on the Monetary Program and the External Sector

Perspectives on the Monetary Program and the External Sector

Another look at Inflation

Another look at Inflation

…and the Economy Keeps Growing…

…and the Economy Keeps Growing…

What’s Behind Inflation

What’s Behind Inflation

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