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With research staff from more than 60 countries, and offices across the globe, IFPRI provides research-based policy solutions to sustainably reduce poverty and end hunger and malnutrition in developing countries.

Liangzhi You

Liangzhi You is a Senior Research Fellow and theme leader in the Foresight and Policy Modeling Unit, based in Washington, DC. His research focuses on climate resilience, spatial data and analytics, agroecosystems, and agricultural science policy. Gridded crop production data of the world (SPAM) and the agricultural technology evaluation model (DREAM) are among his research contributions. 

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IFPRI currently has more than 600 employees working in over 80 countries with a wide range of local, national, and international partners.

Repeated failures to use the cheap dollar as a tool against inflation (Clarin)

November 16, 2020


Clarin published an op-ed by Eugenio Diaz Bonilla. The op-ed discusses the argument that to avoid devaluation, recession, and increased poverty one must step on the nominal exchange rate. Since we never control inflation with all the measures that would be necessary, invariably it would lead to an even larger devaluation, with much deeper recessions and huge jumps in inflation and poverty, which was what we wanted to avoid. Possible solutions: a) Never again use the exchange rate to curb inflation, but rather coordinate the rest of the fiscal, monetary and social coordination variables for the inflationary issue; b) Establish a rule to maintain the multilateral real exchange rate calculated by the BCRA, around values similar to those of 2002-2007, which was when the economy grew seriously. Currently, exporters should be offered a mix of the official exchange rate and some of the parallels. Obviously, all of this requires a technical explanation, for which there is no place here.

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