Miguel Ángel Pesce (born 20 September 1962) is an

Argentine Argentines, Argentinians or Argentineans are people from Argentina. This connection may be residential, legal, historical, or cultural. For most Argentines, several (or all) of these connections exist and are collectively the source of their ...

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

who served as president of the

Central Bank of Argentina The Central Bank of the Argentine Republic (, BCRA) is the central bank of Argentina, being an autarchic entity. Article 3 of the Organic Charter lists the objectives of this Institution: “The bank aims to promote, to the extent of its powers ...

in the

Alberto Fernández Alberto Ángel Fernández (; born 2 April 1959) is an Argentine politician, lawyer, and academic who served as President of Argentina from 2019 to 2023. He was also the Chief of the Cabinet of Ministers from 2003 to 2008. His tenure as Cabin ...

administration, from 2019 to 2023. Pesce previously served as vice president of the Central Bank from 2004 to 2015, during the successive presidencies of

Néstor Kirchner Néstor Carlos Kirchner Ostoić (; 25 February 195027 October 2010) was an Argentine lawyer and politician who served as the president of Argentina from 2003 to 2007. A member of the Justicialist Party, he previously served as Governor of Sa ...

and

Cristina Fernández de Kirchner Cristina Elisabet Fernández de Kirchner (; born 19 February 1953), often referred to by her initials CFK, is an Argentine lawyer and former politician who served as the 56th president of Argentina from 2007 to 2015, and later as the 37th Vice ...

Early life and education

Born in eastern

Mendoza Province Mendoza (), officially the Province of Mendoza, is a province of Argentina, in the western central part of the country in the Cuyo region. It borders San Juan to the north, La Pampa and Neuquén to the south, San Luis to the east, and the r ...

, Pesce is a

University of Buenos Aires The University of Buenos Aires (, UBA) is a public university, public research university in Buenos Aires, Argentina. It is the second-oldest university in the country, and the largest university of the country by enrollment. Established in 1821 ...

graduate.

Career

Pesce served as General Comptroller of Argentina in 2004 and as Secretary of Finances in the

Buenos Aires Buenos Aires, controlled by the government of the Autonomous City of Buenos Aires, is the Capital city, capital and largest city of Argentina. It is located on the southwest of the Río de la Plata. Buenos Aires is classified as an Alpha− glob ...

city government during the mayorship of

Aníbal Ibarra Aníbal Ibarra (born March 1, 1958) is an Argentine lawyer and politician who served as mayor of Buenos Aires. Biography Ibarra was born in Lomas de Zamora, a district located in the southern region of Greater Buenos Aires. His father was a P ...

. A member of the centrist

Radical Civic Union The Radical Civic Union (, UCR) is a major political party in Argentina. It has reached the national government on ten occasions, making it one of the most historically important parties in the country. Ideologically, the party has stood for r ...

(UCR), Pesce became a

Kirchnerist Kirchnerism ( ) is an Argentine political movement based on ideals formed by the supporters of spouses Néstor Kirchner and Cristina Fernández de Kirchner, who consecutively served as Presidents of Argentina. Although considered a branch of Peron ...

UCR ally during Néstor Kirchner's 2003-07 presidency. 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. Following severe economic fallout from the global COVID-19 crisis, with GDP falling by 9.9%, Argentina's economy rebounded by 10.4% in 2021 and 5.7% in January-April 2022. Inflation, however, remained stubbornly high - initially slowing from 54% in 2019 to 36% in 2020; but rising to over 60% by May 2022. The official

exchange rate In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of ...

, 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.

Other activities

Financial Stability Board The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established in the 2009 G20 Pittsburgh Summit as a successor to the Financial Stability Forum (FSF) ...

(FSB), Ex-Officio Member (since 2019)Members

(FSB).

References

1962 births Living people People from Mendoza, Argentina Argentine people of Italian descent University of Buenos Aires alumni Argentine economists Presidents of the Central Bank of Argentina Argentine politicians {{Argentina-politician-stub