esta gente no ve ni una buena.
ECONOMIC RESEARCH
Argentina
Propelled by favorable external conditions and a heavy dose of fiscal and monetary stimulus, the economy is expanding at an above-trend pace.
Despite signs of overheating, economic policy is aimed at maintaining high growth to create conditions that will be supportive of President Cristina Fernández de Kirchner’s reelection.
The government is using procyclical fiscal and monetary polices and a complementary incomes policy to achieve this objective. The outcome is more rapid short-term growth, greater distortions, a weaker peso, and higher inflation.
Inflation is likely to end the year in the 25-30% range. We expect the government, however, to continue underreporting inflation, a practice that lowered payment on inflation-indexed bonds. The administration will continue to compensate labor with large increases in nominal wages and attempt to keep the peso stable.
With the output gap closed, above-trend growth is increasing the risk of a hard landing.
Agreement with Paris Club continues to be postponed.
linK:
http://www.iif.com/emr/la/argentina/
Sin embargo, ninguna de esas malas afecta a las uvp´s, al menos en lo inmediato...