Federico Sturzenegger on Argentina’s efforts to create a credible central bank
BCRA ex-governor speaks about market panic, IMF bailout, and ending high inflation and monetary financing
At the time you took office, at the end of 2015, most observers said the Central Bank of Argentina was a ‘captured’ central bank. Do you agree? What efforts have you put in place to change this?
In the two years prior to us taking over, the central bank had handed over funds worth 5% of GDP to the Treasury. That in itself speaks about what the situation was. And, historically, there has never been a real consciousness about the need for an independent central bank – which may have something to
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