The Deputy Governor of the BCRA, Vladimir Werning, gave a presentation titled “Stage 4 of the Economic Program: A Structural Change that Brings Sustainability to the Economy, and the Four Pillars of the BCRA for a Stronger Economic Balance.” The presentation was delivered in the city of Córdoba on June 24.
AGENDA
Stage 4: STRUCTURAL CHANGE (SUSTAINABILITY) and BCRA STRATEGY (STRENGTHENING)
I. STAGE 4 OF THE ECONOMIC PROGRAM: sustainability and consolidation
• Sustainability of economic growth
A new economy: increasingly “anti-fragile,” where “there is neither an excess of pesos nor a shortage of dollars”
• Consolidation of the low-inflation regime
Macro and microeconomic perspectives: two complementary views on transformation, cycle dynamics, and price equilibrium
II. BCRA STRATEGY: fine-tuning and strengthening
• Monetary and financial fine-tuning
After overcoming two extreme shocks, the economy resumes its path of disinflation and credit expansion
• Strengthening in the foreign exchange front and the financial statements
After overcoming two extreme shocks, the BCRA resets its “firepower”
