Miguel Ángel Pesce

Miguel Ángel Pesce (born 20 September 1962) is an Argentine economist, currently serving as president of the Central Bank of Argentina in the Alberto Fernández administration, since 2019.[1] Pesce previously served as vice president of the Central Bank from 2004 to 2015, during the successive presidencies of Néstor Kirchner and Cristina Fernández de Kirchner.

Miguel Ángel Pesce
President of the Central Bank of Argentina
Assumed office
10 December 2019
PresidentAlberto Fernández
Preceded byGuido Sandleris
Vice President of the Central Bank of Argentina
In office
24 September 2004 – 12 December 2015
Preceded byPedro Lacoste
Succeeded byLucas Llach
Personal details
Born (1962-09-20) 20 September 1962
Mendoza Province, Argentina
Alma materUniversity of Buenos Aires
Signature

Early life and education

Born in eastern Mendoza Province, Pesce is a University of Buenos Aires graduate.

Career

Pesce served as General Comptroller of Argentina in 2004 and as Secretary of Finances in the Buenos Aires city government during the mayorship of Aníbal Ibarra. A member of the centrist Radical Civic Union (UCR), Pesce became a Kirchnerist UCR ally during Néstor Kirchner's 2003-07 presidency.[2]

Tapped to head the Central Bank by newly-elected President Alberto Fernández in late 2019, Pesce initially cut benchmark interest rates, from 63% to 38%, in an effort of spur economic growth following a deep, two year recession.[3]

Following severe economic fallout from the global COVID-19 crisis, with GDP falling by 9.9%,[4] Argentina's economy rebounded by 10.4% in 2021 and 5.7% in January-April 2022.[5] Inflation, however, remained stubbornly high - initially slowing from 54% in 2019 to 36% in 2020; but rising to over 60% by May 2022.[6] The official exchange rate, moreover, doubled during Pesce's first 30 months in office to 130 pesos per dollar - while the parallel "blue" rate nearly quadrupled, to 270 pesos.[7]

Other activities

References
  1. "Quiénes es quién en la nueva mesa chica del Banco Central - LA NACION". La Nación.
  2. "Pesce, un radical K apadrinado por Alberto F." Crítica de la Argentina (in Spanish). 7 January 2010. Archived from the original on 9 January 2010.
  3. "Argentina cuts interest rate for eighth time since December". Reuters. 5 March 2020.
  4. "IMF predicts Argentina's economy will slump 9.9% in 2020". Buenos Aires Times. 25 June 2020.
  5. "Estimador mensual de actividad económica: Abril de 2022" (PDF). INDEC.
  6. "Índice de precios al consumidor (IPC): Mayo de 2022" (PDF). INDEC.
  7. "Dólar blue hoy: a cuánto cotiza este lunes 4 de julio". Ámbito. 4 July 2022.
  8. Members Financial Stability Board (FSB).
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