Nicolás Cachanosky

A better law is welcome. But if legal text can’t tie a government’s hands, the fix has to be structural, not textual. On August 26, Argentina’s Chamber of Deputies approved a sweeping rewrite of the BCRA’s charter, 144 votes to 102, with 9 abstentions. The bill now moves to the Senate. It would bar the […]

  S&P and Fitch upgraded Argentina. MSCI still won’t even open a review. What is MSCI pricing?   On June 23, MSCI released the results of its 2026 Market Classification Review and, once again, declined to open a consultation on Argentina. This was neither a downgrade nor new restrictions. It was simply a refusal to start the […]

  Reversing populist legacies requires more than winning an election — or changing the policies. It requires rebuilding the institutions that populism spent years dismantling.   Elections end governments. They do not always end what those governments built. A previous post documented how populist rhetoric falls sharply when a populist government leaves office, while the economic and […]

  Elections are supposed to change things. And in one sense, they do: when a populist government loses power, the rhetoric changes almost overnight. The speeches shift in tone, the enemy-of-the-people framing disappears, and international observers breathe a collective sigh of relief. But rhetoric is not policy. And policy, it turns out, is far stickier […]

  Argentina has had more IMF programs than almost any country in history. The count depends on how one tallies arrangements, waivers, and extensions, but the number exceeds twenty. The pattern is consistent: a crisis, a program, initial stabilization, eventual collapse, and a return to the Fund. The standard explanations cycle through familiar territory — […]