Alberto Ades, Wall Street economist: 'Argentina needs a high dollar to generate quality employment, gather reserves, and open the economy'
Alberto Ades, a Wall Street economist, discusses the current economic landscape and its implications for Argentina, emphasizing the need for a high dollar to improve employment and economic stability.
Alberto Ades, an experienced economist who has worked on Wall Street for the past 30 years, recently returned to Buenos Aires and shared insights on the global economic context affecting Argentina. He believes that the current international conditions are relatively favorable for Argentina despite facing various commercial and geopolitical challenges. Ades highlights that while there are risks that might create aversion to investment, the overall environment could support Argentina's economic growth if navigated wisely.
During the conversation, Ades addressed recent concerns regarding the U.S. Supreme Court's decisions about tariffs and Trump's policies. He suggests that these factors are not likely to deeply impact Argentina. Instead, he emphasizes the importance of interest rate trends in developed nations, noting that most, apart from Japan, are expected to maintain or even relax interest rates. This could forge a more favorable comparison to the situation in 2018, when rising U.S. rates contributed to Argentina's economic instability.
Ades argues that for Argentina to thrive, especially in creating quality employment, a high dollar is essential. He posits that this strategy would help accumulate reserves and facilitate a more open economy. This perspective sheds light on the delicate balance Argentina must strike amidst global economic pressures while aiming to propel its economic recovery and attract investment.