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Most recent by Isaías Marini

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Argentina: One Year After the Restructuring, Still Orphans of a Plan

A year ago, Argentina reached an agreement with its main creditors and restructured the public debt in default. That allowed to almost clear the maturities schedule completely. The first year in which the market will see Argentine dollars will be in 2025 when between capital and ...   Become a member to read the rest of this article Username...
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Argentina: The Economy Dancing the election music

On the weekend the first stage of the primaries closed and therefore the candidates for the legislative elections in November are already outlined. The economy began to rebound in June and the data looks very different from the first half. In the absence of a “delta invasion”, th...   Become a member to read the rest of this article...
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Argentina: Special Analysis on Lithium in Argentina

I. The economy and the elections: playing poker with no aces? The electoral calendar is moving ahead, and soon we will know the candidates for the primaries that will take place on September 12th. These elections are important. They should decide whether the government can get cl...   Become a member to read the rest of this article Username...
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Argentina: The “Cepo” Reloaded

Last weekend the Central Bank and the Securities Commission tightened exchange restrictions, putting more limits on the operation with the most traded sovereign bonds, which are usually used by firms to buy dollars. In addition, it was sought to close some mechanisms that allowed...   Become a member to read the rest of this article Username or E-mail Password...
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Argentina: Cash, Ideology and the Golden Geese

Cash, Ideology and the Golden Geese The government made three decisions in recent days that in the short term won’t change anyone’s life, much less the urban middle class, but that can have potentially negative effects in the medium term. The Paraná Waterway was nationalized for ...   Become a member to read the rest of this article Username...
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Argentina: Of Economic Programs, Jobs, and Exchange Rates

Of Economic Programs, Jobs, and Exchange Rates This week the Undersecretary of the Treasury of the United States asked Argentina to make an economic plan that boosts private employment. That plan would count with the support of his country and therefore would easily go through th...   Become a member to read the rest of this article Username or...
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Argentina: The Descent Into Insignificance and the (Long) Road to Recovery

Argentina backed down two categories in the world of financial investments. It is now a "stand alone" market, which could be interpreted in a free translation as "unclassifiable". Or, more formally, "independent", although we do not know of what it is independent! It is the fourt...   Become a member to read the rest of this article Username or...
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Argentina: Special Analysis on the Equilibrium Real Exchange Rate

A Soft Transition to the Elections: The Calm That Precedes the Storm? I. Can anything go wrong before the elections? It seems that the government has enough instruments to maintain key economic variables under control until the elections.  The official exchange rate should be man...   Become a member to read the rest of this article Username or E-mail Password...
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Argentina: Of Economic Programs, Jobs, and Exchange Rates

Of Economic Programs, Jobs, and Exchange Rates This week the Undersecretary of the Treasury of the United States asked Argentina to make an economic plan that boosts private employment. That plan would count with the support of his country and therefore would easily go through th...   Become a member to read the rest of this article Username or...
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Argentina: Special Analysis on the Equilibrium Real Exchange Rate

A Soft Transition to the Elections: The Calm That Precedes the Storm? I. Can anything go wrong before the elections? It seems that the government has enough instruments to maintain key economic variables under control until the elections.  The official exchange rate should be man...   Become a member to read the rest of this article Username or E-mail Password...
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Argentina: Lost in the Jungle

The government has failed to define an economic program. Beyond the multiple dialectical errors of the president and the curious diplomatic alignment that Argentina has been taking, the truth is that while the world is at full speed thinking about the post-pandemic, Argentina see...   Become a member to read the rest of this article Username or E-mail Password...
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Argentina: Leliqs Are Out, Bonds Are in, a Substitution with Impact

Editorial: Leliqs Are Out, Bonds Are in, a Substitution with Impact Last Thursday, the Central Bank decided to change its reserve requirements policy. From now on it gives banks the option to use sovereign bonds with a maturity above 180 days and below 450 days, instead of Leliqs...   Become a member to read the rest of this article...
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Argentina: Special Analysis on the Argentine Banking System

In Search of a Program: Hope in Paris, Not So Much in Buenos Aires I. Politics and economic decisions Who is in command? This is a critical question when it comes to economic policies.  Minister Guzman is formally the Minister of Economy, but he seems to be primarily in charge of...   Become a member to read the rest of...
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Argentina: The Same Mistake Time After Time

Editorial: The Same Mistake Time After Time Argentina continues to stumble over the same stone. It is often said that no single instrument can be used to solve many problems. But sometimes just one policy error creates a lot of problems. The announcement of a 30-day beef export b...   Become a member to read the rest of this...
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Argentina: The Paris Club and the Fund – Parallel Lives

Editorial: The Paris Club and the Fund: Parallel Lives Argentina is trying not to default with the Paris Club. That is good news because it implies that at the end of the day there is an interest in maintaining a certain reputation. The agreement with the Club is not easy. It do...   Become a member to read the...