Weekly

Weekly Reports

The temporary relief provided by the IMF’s dollars

Third week
of April 2019
Today, the auctions of Treasury’s dollars began. The rules agreed with the IMF leave no room for discretion. USD 60 million will be sold each day until completing the year’s total of USD 9.6 billion. We are expecting several quiet weeks in the FX market, with a moderate nominal appreciation of the peso, also as a re...

Third revision of the Stand By Arrangement with the IMF

Second week
of April 2019
The IMF’s board approved the third revision of the program and authorized the disbursement of USD 10.8 billion that correspond to the first quarter of 2019. For the second and third quarters, a USD 5.4 billion disbursement is expected, while USD 980 million will be wired in the fourth quarter subject to compliance o...

The divorce between Wall Street and Main Street

Second week
of March 2019
The United States economy is showing signs of deceleration. However, the stock markets brought about an extremely positive January and a solid February. The S&P 500 index grew 7.8% in the first month of the year and strengthened the tendency with a 3% growth last month. It is true that a very unfavorable situati...

Why leaving the recession will take longer this time

Fourth week
of February 2019
There are some strong arguments to believe that exiting the recession will be a slower process compared to previous experiences, especially for the non-agricultural economic activity. For several months now, the economy has begun to undergo an important macroeconomic rebalancing triggered by a sudden decrease of ava...

Pending utility tariff hikes before primary elections

Third week
of February 2019
The electoral calendar indicates August 11th, when the primary elections will take place, as the starting line in the presidential run. Until then, many utility tariff hikes are expected, especially in the metropolitan area of Buenos Aires, in addition to the ones implemented in January. The adjustments expected bet...