Informes Mensuales

Competitiveness and the real exchange rate: are we back to the 90’s?

Mayo 2010
An update on Argentina The last month has provided mixed news for the Argentine economy. On the one hand, the economy continues to grow on the back of high soybean prices and good weather that are leading a new high soybean record crop that is likely to exceed 54 million tons, of a stable exchange rate and ove...

The exchange rate dilemmas and the debt exchange opportunities

Marzo 2010
Recent economic developments. Economic developments have been recently overshadowed by political events, where there has been a fluid situation as the Government and the opposition have been struggling for power. Most of the action has been in Congress where the official party has managed to block the opposition...

International reserves: Now you see them. Now you don

Febrero 2010
In few words. There is never a quiet time in Argentina, and the recent months have reminded us that this is a country where surprises are the norm rather than the exception. The new chapter in the Bicentennial Fund, in which the President inaugurated the Congressional sessions announcing a new emergency decree w...

The Redrado saga is over, but the inflation and the fiscal sagas just begin

Enero 2010
Reflections on the new political scene. It seems that the worst of this institutional crisis is behind us, as Redrado is now out, there is a new president of the Central Bank that will stay in his position till September and there are negotiations with the opposition to set-up a new, smaller and more bounded &ld...

The Challenges on Debt Management and Monetary Policy

Diciembre 2009
The market likes the new Fund, but where is the catch? Once again the Argentine government took the market by surprise, as it decided to put aside 6.6 billion dollars of international reserves to make the payment of the debt services for 2010. This time, however, the news initially had some positive effect on bo...

Myths and realities underlying the recent financial rally

Septiembre 2009
The Argentine financial markets in September continued to rally. The Argentine financial markets in September continued to rally and maintained the momentum that started in mid-August. This improvement to a large extent took place on the back of a much better external environment, where the compression in credit...