Gloria Sorensen is Chief Economist at BBVA Research in Argentina since March 2009.
She leads a team of economists focusing on economic, financial and regulatory analysis of the economies of Argentina and Uruguay.
Prior to her current position, she served as Principal Economist (2000-2009) in the same department. Previously, she was Professor of Economic History at the Department of Economics of the University of San Andrés and at the Catholic University of Argentina.
She was also part of the team of analysts in the Credit Analysis and Financial System Department of the Central Bank of Argentina.
She has published several research papers and spoken at various academic conferences and economics forums, both at the Central Bank and at BBVA.
She completed her undergraduate studies at the Catholic University Argentina, obtaining a BA in Economics. She holds a Master in Economics from the Instituto Torcuato Di Tella in Buenos Aires.
We revised slightly to the downside the growth of 2019 to -1.2% due to the prolongation of the monetary astringency, maintaining the vision of a positive quarterly growth since 1Q19. Inflation will fall more gradually than expected, reaching 35% YoY due to the volatility of the exchange rate and the higher indexation of the economy.
We maintain our growth forecast for Uruguay at 1.3% in 2019 and we revised it downwards in 2020 to 1.9% (before 2.2%). An environment of lower global growth, in Argentina and Brazil, as well as the lack of definition of the beginning of the third pulp mill construction will determine a moderate growth in the next two years.