As one of the continent’s major powers with significant political weight, Argentina is a strategic country in the Latin American region. Since 2017, AFD has been supporting projects to promote sustainable energy and food transition, as well as strengthening essential public services.

Produced by AFD's team of country-risk economists, macroeconomic country assessments provide an analysis of development processes in countries in which AFD operates. They also characterize their growth trajectory, and detect economic, social, political and financial vulnerabilities associated with these trajectories. AFD Group is thus in a position to properly measure the challenges and monitor the risks associated with each of its investments.

Emphasis is placed on developing countries, particularly in Africa, for which macroeconomic analyses are rare or infrequent. AFD seeks to complement existing production on the global economic situation, more focused on advanced economies and major emerging countries.

Find out more: Macroeconomic Analyses at AFD

Country-risk analysis is based on a close follow-up over a long period of time and rooted in a fine knowledge of local contexts. Cyclical trends, often highlighted in the news, are always examined in the light of structural trends and of the regional context in which they take place. The aim is to highlight country-specific macroeconomic issues while assessing risks against comparable time- and space-based trajectories.

Country-risk economists place the study of socio-political vulnerabilities, the growth model, the viability of public debt, external balances and the soundness of the financial system at the heart of their assessment, and give specific attention to countries' exposure to climate risks.

Argentina is currently experiencing an upheaval of its economy under the structural adjustment program of President Javier Milei. The drastic measures implemented open the perspective for a reduction of the macroeconomic imbalances that have affected the country for years, but they also come with a heavy social and political cost. Improving macroeconomic stability now appears to be a precondition for removing the malaise affecting FDI in Latin America’s third largest economy, despite its major strengths. It is crucial to improve the country’s attractiveness for international investors in order to attract foreign currencies and strengthen its external position, as foreign exchange reserves have today stabilized at levels that remain a cause of concern.

Download our publications on the macroeconomic situation of Argentina:

• “Argentina: Stability at all costs”, in MacroDev Semestrial Panorama #57 (July 2024)
• “Argentina: The constrasting effects of rising commodity prices” in MacroDev Semestrial Panorama (September 2022)
• “Argentina: new model, new dynamic?” (October 2018, available in French and Spanish)

Contact: 

• Christophe Barat, country-risk economist, AFD

International donors have intervened massively in the Palestinian Territories since 1994. A large part of this financing has enabled the mobilization of new water resources and an increase in the efficiency of water use in an arid territory. They assumed that the Oslo accords and the Palestinian water law reflected the reality of water management.

The introduction of new principles through the Oslo Accords and national resource management by the Palestinian Water Authority (PWA) has weakened the social norms that governed the functioning of traditional governments. This has given rise to complex local situations in which different registers of recognition of rights of access to the resource are exercised.

It is therefore important to understand how each of the pathways followed by water drawn from a common reservoir, whether it is a well or a source, is part of bundles of rights and how bundles of rights are now affected by projects funded by donors: who appropriated the water made available by these projects? Under what terms? Who lost it?

This research programme focused on the political dimension of the construction and transformation of commons. It sought to understand the current governance of the “paracommons” of water in Palestine − the term “paracommons” denoting potential material gains from improving the efficiency of systems drawing from a common reservoir of natural resources, such as water. 

The programme also examines how to harness the existing bundles of rights within the commons of water to develop a deliberative and equitable governance.

The programme organised three types of seminars: seminars with the members of the programme, research seminars, and "action-research seminar" which involved, in addition to the researchers, farmers in the studied areas, members of the Food and Agriculture Organization (FAO), members of Palestinian agricultural NGOs, as well as members of the Palestinian Ministry of Agriculture and of the PWA.

The fieldwork, which was very substantial, mainly took place during the first 24 months of the programme. Subsequent fieldwork was carried out to triangulate the results obtained by metrology, mapping and qualitative surveys. The results were disseminated through publications, seminars and panels at international conferences.

The program led to the publication of several peer-reviewed journal articles: Geoforum, Journal of Political Ecology, Environment and Planning E: Nature and Space, International Journal of Water Resources Development.

Many interventions have taken place related to the program, including:

• AFD’s 12th international conference on development in 2016 on the theme of “Common and development”;
• Stockholm World Water Week 2017;
• The first Palestinian International Water Forum (IWF) held in 2018.

The results were also disseminated to the general public through press and radio interviews, conferences and training sessions. 

The research project highlighted “the usefulness of recognizing the commons governing irrigation water. It harnesses the commons to understand the power interactions at play in transformations over local, national and international scales. It proposes to harness the positive externalities commons generate in order to transform political and economic interactions at the national and international scales. Although it uses a Palestinian case study, this conceptual development can apply anywhere. Palestinians have long managed irrigation as commons at the local level. But the overwhelming attention paid to their national struggle has led most researchers to focus on national institutions instead. It has also favored treating water as a stock rather than a flow (…) that is managed successively by a variety of institutions. At the local level, it allows us to understand the interactions between smallholders and neighboring agribusinesses, for example. It allows us to understand the upheaval in power interactions when a merchant economy attempts to supplant a human economy. At the national level, it allows us to address the governance of the paracommons. (…) Addressing the governance of the paracommons of Palestinian irrigation is now urgent.” (Trottier, 2018)

To go further:

• “Harnessing the commons to govern water as a flow” (Julie Trottier, July 2018)
• “Palestinian water laws: between centralization, decentralization, and rivalries” (Jeanne Perrier, November 2020)
• “The institutionalization of irrigation and the effects thereof: The case of the Palestinian water user associations” (Jeanne Perrier, November 2020)

Contacts: 

• Julie Trottier, director of research at CNRS
• Stéphanie Leyronas, research officer at AFD

Even though it covers 43% of the Earth's surface, the high seas – designated by jurists as being beyond national jurisdiction – tends to be defined only implicitly. Yet it is the site of various human activities (navigation, fishing, mineral exploration, etc.) and, in the current context of climate change and anthropogenic pressures on ecosystems, its ecological state is the subject of growing concern. 

For more than 15 years, these issues have been discussed at the United Nations in informal exchanges. This led to an intergovernmental conference opened in September 2018 on the conservation and management of biodiversity in areas beyond national jurisdiction. In connection with this diplomatic process, various sites on the high seas are made visible by the advocacy of non-governmental organizations (NGOs) calling for their protection. These include a phenomenon located in the Eastern Tropical Pacific: the Costa Rica Thermal Dome.

This thesis aims to study the socio-political emergence of the Costa Rica Thermal Dome. This oceanic upwelling phenomenon is a rise of cold waters rich in nutrients, produced by the main winds and marine currents of the region, which moves seasonally between the waters under the jurisdiction of several Central American States and international waters. Discovered in the late 1940s by American oceanographers, the different issues related to the conservation of its biodiversity have emerged over the past decade, mainly under the action of the regional NGO MarViva.

As this matter involves a wide range of actors (NGOs, offshore fisheries, scientists, States, intergovernmental organizations, etc.), this research looks into the interactions and problems of collective action associated with the Thermal Dome, in order to question the conditions of emergence of a “common” of such complexity: how is the dome “built”? By which actors, through which discourses and using which knowledge? What collaborations and polarizations does it crystallize?

This thesis is based on a multi-location qualitative survey, centered around the gathering of a corpus of written documents (multidisciplinary scientific literature, grey literature, legal texts), semi-directional interviews and ethnographic moments.

The survey is conducted between France, Costa Rica and Nicaragua. A Central American trip was organized in 2021 to collect most of the data through interviews with stakeholders located between different coastal sites (Puntarenas, Cuajiniquil, Playas del Coco, San Juan del Sur) and the capital of Costa Rica, San José. 

The main result is the production of a PhD thesis in human geography: A limit to the ocean Frontier? The offshore construction of the Costa Rica Dome (defended on July 2nd, 2024)

A research paper has also been published: Questioning fishing access agreements towards social and ecological health in the Global South (Editions Agence française de développement, 2021)

This research explores this phenomenon’s social construction in the three main fields that have approached it: oceanographic sciences, fisheries, and biodiversity conservation.

Since  its  inception  as  a  social  object,  the  Dome  has  remained  an  offshore  space,  hardly accessible, manageable or governable to actors who have deployed various strategies to know and utilize it. Oceanographic research has increasingly mobilized remote technical mediation to decipher a geophysical space with  fuzzy  contours. Various fisheries, especially industrial and from distant-water fishing nations, recurrently came close to the Dome’s occurrence. These encounters nevertheless did not prove strategic on a stable basis and fishers still relate to it as a fluid space whose dynamic configurations serve them in labile ways.

More recently, the Dome has also become a subject for the global marine conservation sector. Under the leadership of Environmental Non-Governmental  Organizations,  it is  being  constructed  as a  geography  of promise to advocate governance solutions for the protection of biodiversity in the High Seas. Yet,  as  an  offshore  feature,  the  Dome  appears  at  the  limit  of  the  human  world.  Beyond appropriation, it invites us to consider a narrative other than the "ocean Frontier" – which has been a particularly strong narrative over the past years, building on views of oceans’ openness and emptiness as opportunity for human expansion and control.

Contacts: 

• Nadège Legroux, PhD in Human Geography, UMR SENS
• Stéphanie Leyronas, research officer, AFD