In fact, we carry out a sterilization program that is unprecedented for Argentina - because of its depth as well as its quality - on the basis of a public sector that saves, a sound financial system, and a Central Bank with a strengthened balance sheet. While we are enjoying a favorable international scenario, believing that this scenario will last forever would be misleading.
In fact, the world today is highly volatile and, as we all know, the challenges we face are magnified in emerging countries such as Argentina, where transmission mechanisms are still vague and instruments have a limited power. As a consequence, our risk management approach entails that monetary and financial policy should help prevent crises and weather uncertain scenarios.