{"id":9094,"date":"2025-12-15T20:38:27","date_gmt":"2025-12-15T23:38:27","guid":{"rendered":"https:\/\/aaep.org.ar\/?p=9094"},"modified":"2025-12-15T20:38:29","modified_gmt":"2025-12-15T23:38:29","slug":"of-greek-curses-and-stabilisation-plans-in-arhentina","status":"publish","type":"post","link":"https:\/\/aaep.org.ar\/?p=9094","title":{"rendered":"Of Greek Curses and Stabilisation Plans in Arhentina"},"content":{"rendered":"<iframe loading=\"lazy\" class=\"wonderplugin-pdf-iframe\" src=\"https:\/\/aaep.org.ar\/wp-content\/plugins\/wonderplugin-pdf-embed\/pdfjslight\/web\/viewer.html?v=2&file=https:\/\/aaep.org.ar\/works\/works2025\/4834.pdf\" width=\"100%\" height=\"600px\" style=\"border:0;\"><\/iframe>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Soon after leaving Convertibility, Argentina started to experience a long period of chronic inflation characterised by inflation rates resilient to decline, despite policymakers\u2019 attempt to restoring stability. Particularly during the sub-period (2010-2023), stabilising policies either based on control of monetary aggregates, inflation targeting, or including the monetary authority\u2019s rates of interest did not succeed in checking inflation. Two reasons mainly accounted for stabilisation policies failing to achieve results; first, fiscal policies not aligned with stabilisation goals, and second, an exchange anchor based on a not credible crawling-peg mechanism, plus restrictions upon exchange market operations, causing an informal exchange rate to appear and forcing devaluations of the national currency (individuals\u2019 self-fulfilled prophecies). In contrast, the government elected for the period (2023-2027), resorted to a complete different stabilising policy approach privileging an orderly fiscal policy based on the control of the monetary base, the reduction of public spending and the elimination of fiscal deficits which soon achieved gradual contractions of inflation rates of single digits. However, policy makers face now new challenges as high interest rates used to absorb liquidity and to ease pressure upon dollar favour recession impacting in turn upon the levels of economic activity, investment and employment.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[29],"tags":[33],"class_list":["post-9094","post","type-post","status-publish","format-standard","hentry","category-anales","tag-aaep-anales-2025"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Of Greek Curses and Stabilisation Plans in Arhentina - Asociaci\u00f3n Argentina de Econom\u00eda Pol\u00edtica<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Of Greek Curses and Stabilisation Plans in Arhentina - Asociaci\u00f3n Argentina de Econom\u00eda Pol\u00edtica\" \/>\n<meta property=\"og:description\" content=\"Soon after leaving Convertibility, Argentina started to experience a long period of chronic inflation characterised by inflation rates resilient to decline, despite policymakers\u2019 attempt to restoring stability. Particularly during the sub-period (2010-2023), stabilising policies either based on control of monetary aggregates, inflation targeting, or including the monetary authority\u2019s rates of interest did not succeed in checking inflation. Two reasons mainly accounted for stabilisation policies failing to achieve results; first, fiscal policies not aligned with stabilisation goals, and second, an exchange anchor based on a not credible crawling-peg mechanism, plus restrictions upon exchange market operations, causing an informal exchange rate to appear and forcing devaluations of the national currency (individuals\u2019 self-fulfilled prophecies). 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