Welcoming an intense 2019

We are starting a year in which the elections will play an important role in the evolution of the economy. If one evaluates Argentina based solely on its economic policies and fundamentals, one would expect that the economy should recover quickly from the recession. However, this is an election year and the choice, as in 2015, is likely to be between a market oriented set of policies that would implement fiscal and monetary policies that favor macroeconomic stability and debt sustainability, and a return to a populist set of policies.