Argentina´s Economic Outlook 4Q 2013

Informes Trimestrales

 

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Argentina´s Economic Outlook 4Q 2013

Cuarto trimestre
2013

Recent macroeconomic and financial developments are dominated by the persistent drop in international reserves to less than 30 billion dollars, a large depreciation of the parallel exchange rate of almost 20% so far this year which has increased the premium to almost 70% once again and a rise in inflation in December and January to more than 3% per month.

This complex  situation is complicated by the lack of a convincing policy response to address the problems which are instead tackled by taking patchy policy measures that fail to calm the markets. The impression is that the government is trying to find out a solution through a trial and error process, though time is running short for an inexperienced team to learn the appropriate policy response.