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sd-10-EFTA01386037Dept. of Justice

EFTA Document EFTA01386037

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16 October 2017 Special Report: Argentina • Position for the upturn Figure 1: Real exchange path implied by market curves and a trend inflation of 5% 130 120 110 100 90 so 70 imps] foal achinga fan pod, - by ARGENT/SOWS Curve offolmolod by 607ES.CER woo - Wel of PEER 2017 2019 2021 2023 2025 Scurf Drab dont When we assume that inflation follows the implied breakeven rates priced in linkers, the cushion is a lot less and substantial real appreciation is required to balan

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Dept. of Justice
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sd-10-EFTA01386037
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