ARGENTINA
Analysts
Domingo Cavallo
Former Economy Minister and Central Bank President
Joaquin Cottani
Former Economy SecretaryDatabanks
Recent Country Insights
A general view of the economy ahead of the midterm elections—Part I: Domestic issues
ARGENTINA · Report · 22 Jul 2025
This report and the next will examine where Argentina stands economically and financially nineteen months into the Milei administration and three months before a midterm election that will critically influence what the administration will be able to do for the rest of its mandate. The analysis is...
Argentina ordered to surrender its 51% stake in YPF
ARGENTINA · In Brief · 01 Jul 2025
Yesterday, Judge Loretta Preska from the Southern District Court of NY ordered the Government of Argentina to surrender the 51% stake it has in YPF, the national oil company, to partially satisfy a $16.1 billion court judgement issued in 2023 and whose main beneficiary is Burford Capital. The gov...
As inflation breaks the 2% psychological mark, the government explains how it will accumulate reserves without losing control of the money supply
ARGENTINA · In Brief · 13 Jun 2025
This week ended on two positive notes. Yesterday, INDEC reported that May inflation was 1.5% m/m, down from 3.7% in March and 2.8% in April. The low print benefited from a reduction (-2.7%) in seasonal prices and underadjustment (1.3%) of regulated prices. However, although core inflation (2.2%) ...
The search for "endogenous" dollars
ARGENTINA · Report · 10 Jun 2025
Argentina is a bi-monetary economy not because the peso and the dollar circulate with equal ease but because, to protect themselves against inflation, Argentineans have traditionally invested a large percentage of their wealth portfolios in US dollar instruments, including cash held in dollars th...
Understanding Argentina's current stance on exchange rate and monetary policies
ARGENTINA · Report · 16 May 2025
The economic policies enacted by Argentina’s government since December 2023 have been successful on many fronts, but there are storm clouds on the horizon that cannot be ignored. The most important achievement so far has been fiscal consolidation. However, while impressive and strictly necessary ...
Does the mild depreciation of the peso after the (partial) elimination of the cepo mean that the peso is no longer overvalued?
ARGENTINA · In Brief · 01 May 2025
In a recent report (see https://globalsourcepartners.c...), I explained the analytical difference between the nominal exchange rate (NER) and the real one (RER) for those who needed a refresher tutorial on the subject. In short, the NER is the relative price between two assets (foreign and domest...
How much does Argentina's new economic plan differ from the previous one?
ARGENTINA · Report · 25 Apr 2025
Two weeks into Argentina’s new economic plan, which received strong support from the IMF, we have a clearer picture of what we can and cannot expect from it. Three things stand out. First, it is not the third phase of the same plan, as the government claims, but a new plan that was introduced bec...
Argentina's IMF-supported new measures look good on paper, but the devil is in the details
ARGENTINA · In Brief · 13 Apr 2025
On Friday, Argentina and the IMF released the full content of the economic program that will be implemented under the auspices of the $20 billion, four-year EFF Agreement that the Fund's board has just approved. For the details of the program, see https://www.imf.org/en/News/Ar... and https://www...
Webinar Replay and Slide Presentation - Argentina’s Economic Crossroads: Currency valuation, IMF talks and the path to stability
ARGENTINA · Report · 04 Apr 2025
Is the Argentine peso overvalued and will there be another devaluation? Are Argentina’s national accounts balanced at the current ARS level? What are the timelines and conditions for IMF negotiations? How will inflation dynamics develop? What impact will credit penetration have? What is the curre...