This was a small-scale study, but Prof Nicolson says the results are on a par with those achieved by the large-scale reading recoveryscheme in the early 1990s.
Though the financial markets have recently taken a slightly more relaxed view of Argentina's problems, under the country's rigid currency-board scheme any firm recovery from its current lengthy recession depends on inflows of money from abroad.
"Growth is likely to be weak in the near term but further out a continued easing in domestic credit conditions, supported by the Bank's asset purchase programme and the Funding for Lending Scheme, together with the stronger global backdrop, underpin a slow but steady recovery in output, " the governor said.