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Waldo Riveras
Waldo Riveras

Senior Economist

Waldo Riveras is a Senior Economist at BBVA Research for the unit in Chile.

 

Previously, he served for seven years as a consultant in the macroeconomic team at the Ministry of Finance. Its main tasks there, include the analysis of national and international economic situation, development of models and projections of key macroeconomic aggregates and participation in the evaluation and development of various bills. Along with this, he participated in the design and operation of fuel price stabilization systems used in Chile in recent years.

 

He is Master in Economics from University of Chile.


Latest Publications

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Chile | Cut in MPR to 2.5% and neutral bias

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It had to happen. The Central Bank has cut the MPR (Monetary Policy Rate) by 25bp and modified its bias to a neutral one. It would be consistent with the macro scenario of the CB to cut the rate despite the fact that consensus and all the surveys were inclined - incorrectly, from our point of view - to maintain it.

Units:
Geographies:Chile

Available in Spanish, English

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Chile Economic Outlook. Second quarter 2017

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We are continuing to forecast growth of 1.6% this year, although risks are tilted to the downside. Inflation will continue to fluctuate below 3% yoy for most of the year. Our baseline scenario envisages a depreciation of the peso. The monetary policy rate will be around 2.5% at the end of the first semester and we estimate a growth in public spending by 4%.

Units:
Geographies:Latin America Chile

Available in Spanish, English

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Chile | Local issuance: Ongoing efforts to seek increased non-residents participation

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Treasury announces local currency issuance calendar for US$7 billion, of a total that for this year would be US$10.5 billion at most, US$1 billion less than the limit authorised by the Budget Act

Units:
Geographies:Chile

Available in English

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Chile Economic Outlook. First Quarter 2017

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Growth projection for 2017 has been corrected to 1.6% in view of the weakness observed at the beginning of the year. The exchange rate is close to intervention level. Limited inflationary pressures are confirmed, which creates room for cuts in the monetary policy rate to 2.5%. The medium-term fiscal situation is becoming more complex and will require an adjustment.

Units:
Geographies:Latin America Chile

Available in Spanish, English

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Chile | Fundamentals of the Chilean Economy

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The aim of this presentation goes beyond the short-run economic outlook with relevant data on different dimensions of the Chilean economy. It seeks to provide information to frequent questions from both foreign and domestic investors.

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Geographies:Chile

Available in English

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Chile Economic Outlook. Fourth Quarter 2016

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We are maintaining our growth projections for 2016-17. Inflation would end the year close to the Central Bank’s target and to fluctuate below 3% in 2017. We are projecting at least two cuts in the Monetary Policy Rate by 1Q17. Cuts in the Monetary Policy Rate are needed in order to bring about a more competitive exchange rate and to anchor inflation.

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Geographies:Chile Latin America

Available in Spanish, English

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Chile Economic Outlook. Third Quarter 2016

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We adjusted downwards our GDP growth forecast for 2017 to 1.8%, following the materialisation of external and internal risks. Currency appreciation has been excessive, making recovery difficult and with a potential risk of generating significant disinflationary pressures. We foresee two cuts in the MPR in the next 12 months. The first would occur in 4Q16.

Units:
Geographies:Latin America Chile

Available in Spanish, English

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Chile | IMACEC of 0.8% YoY: Close to a technical recession

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IMACEC of June goes in line with our expectations showing the economy expanding annually at a modest 0.8%. (BBVAe 0.6%; EEE 1.5%). However, in seasonally adjusted terms, the economy has half the work done to enter a technical recession by contracting 2.6 % QoQa.

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Geographies:Chile

Available in Spanish

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Chile | Another slap in the face: economic activity below 1% YoY in June

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Economic sector figures in June were in line with our projections which confirm that aggregate activity will grow between 0.5% - 0.9% YoY. On the other hand, the unemployment rate keeps rising, determined by a decrease in salaried jobs nonetheless sustained by self employment. Overall, figures still show labor market slack.

Units:
Geographies:Chile

Available in Spanish