Growth, Debt and the Banking Sector
The economic expansion involves at least two risks: inflation and fiscal comfort. We probably have not seen the end of inflation in Argentina. While nobody is thinking in high rates of inflation, we cannot rule out that Argentina will experience inflation rates in the low two digits levels, at least in 2004. While the fiscal situation […]
Argentina: Growth, Economic Policies and Debt
While the economy will most likely grow over 6 percent this year and around 4 percent in 2004, the medium term prospects remain unclear. Financial stability, sound macroeconomic policies and a favorable external environment have enabled the rebound. But the recovery from a very low base has been the easier part, the main challenge is how […]
Argentina: Getting out of Default
Argentina is in the process to restructure over 90 billion dollars of public debt, the largest public sector default in history. The restructuring will face complex legal and logistical issues, and unless the process does gain momentum soon, it is unlikely that it will be completed before the third quarter of next year. Being in […]