Overview
- Vladimir Werning, the BCRA vice president, publicly defended the bank’s macro‑stabilization strategy on Thursday and said it removes recurrent devaluations as a routine policy tool.
- The BCRA forecasts a revival of domestic lending because loan delinquency is falling, nominal rates are stable, and funding costs are negative in real terms.
- Officials flagged three external risks that could undermine the recovery: the Middle East war and higher oil prices, global inflation with rising interest rates, and persistent fiscal deficits.
- The central bank reported a record near‑US$35 billion of dollar financing raised in capital markets this year and urged firms and savers to use brokerage houses (Alyc) and funds as alternatives to bank credit.
- Werning acknowledged last year’s tight monetary adjustment slowed credit and created irregularities, warned reserves rebuilding will take time, and said the policy mix aims to keep dollar savings in Argentina while expanding funding channels for pymes and households.