Federico Sturzenegger

Federico Sturzenegger (born 11 February 1966) is an Argentine economist who is the current head of the Ministry of Deregulation and State Transformation under Javier Milei's presidency.

He was also Chief Economist of YPF, President of Bank of the City of Buenos Aires and a National Congressman for the PRO party.

[4] While his father was completing a PhD at Harvard University, the family spent some of his early childhood years, living in Boston Massachusetts.

In 1998, Sturzenegger left his position in YPF and became Dean of the Business School at Torcuato di Tella University until the year 2001.

From to 2005 to 2007, Sturzenegger was a visiting professor of public policy at the John F. Kennedy School of Government, Harvard University.

Specifically, the U.S. Bureau of Economic Analysis (BEA) estimated the net U.S. current account deficit to be 2.5 trillion in 2004.

However, according to Sturzenegger and his colleague Ricardo Hausmann, the U.S. current account deficit cannot in reality be as high as it is estimated to be: otherwise, the U.S. would be paying large amounts of interests on its debt.

Thus, the authors argue that the "real" cumulative current account between 1980 and 2004 had in fact been positive, and that somehow a large amount of (foreign) assets are being left out of the calculations.

[6] [7] [8] The suggested source of this "missing wealth" is dark matter, resulting from the unaccounted export of ideas and other services (such as insurance or liquidity) from the U.S. to other economies.

The two authors claim that the U.S. has significant exports, mainly of business know-how bundled with its Foreign direct investment, that do not show up in official trade statistics.

Conversely, periodic devaluations of pegs in inflation-prone countries were the result of the implementations of monetary policies that were inconsistent with fixed exchange rates and that made the effective regime resemble a flexible arrangement.

[14][16] Sturzenegger's management is known for implementing a unique hiring system based in meritocratic results and inspired in the Brazilian Development Bank.

[20] Sturzenegger argued that in many parts of the world it was shown that children who receive quality early education at the age of 3–4 years, had lower dropout rates, higher educational level completed, higher wages, better academic performance later, and a lower proportion of them was in the need to receive state social assistance plans.

At the end of 2023, Federico Sturzenegger became a major advisor to newly-elected president Javier Milei to deregulate Argentina's economy.

[25] On July 5, 2024, Milei created a ministry focused on implementing the reforms designed by Sturzenegger and appointed him as minister of this new organization.

Even with these results in December 2017, the government decided to dismantle the system, which subsequently implied a process of increasing inflation, which motivated its departure shortly after.

The result was the highest credit growth in 20 years in 2017, with a real explosion in the mortgage loan segment, a process that has continued later.

Likewise, it promoted the divestment of banks in the Prisma company (sole supplier of Visa in the country) in order to make the credit and debit card segment more competitive.

New Headquarter of Banco Ciudad in Parque Patricios
Jury of Federico Sturzenegger as National Congressman
Spread Country Risk (EMBI+) for Argentina. The red line marks the 28D event.