The burden of the Debt is Falling despite Worse Fiscal Accounts

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The burden of the Debt is Falling despite Worse Fiscal Accounts

Agosto 2006

What"s new? Not very much.

The Argentine economy continues to generate positive data. Recorded inflation in July was only 0.6%, at least three tenths of one percent lower than market expectations and now accumulates 10.6% over the last year. This reduction in inflation is taking place although nominal wages are increasing at roughly 20% while money supply (namely M2) is still growing at 22% per annum. It appears that the price controls and agreements are being effective in showing low official rates of inflation.