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LatinNews Regional Monitor: Brazil & Southern Cone - 24 January 2019

In brief: Argentina

* Gustavo Cañonero, the vice president of Argentina’s central bank (BCRA), has said it will take a “long time” for the national inflation rate to fall. Cañonero emphasised that lowering inflation (which closed at 47.6% in 2018) will “demand a lot of time, patience, discipline and perseverance”. He added that the “annualised numbers reflect a great problem in our country; what we have done so far hasn’t had much effect yet. It isn’t magic, this will only resolve itself in time with discipline. The instability of inflation is greater than what we have had before”. Cañonero also admitted that Argentina had a “very bad 2018”, with a 2.4% fall in GDP.