chief of staff , Juan ManzurMinister of Economy, Martin GuzmanThis afternoon, at the Argentine Consulate in New York City, he met with businessmen and investors from American companies. There they presented the main guiding principles and views of Argentina’s politics and economy, and discussed progress in negotiations with the International Monetary Fund (International Monetary Fund).
The chief of staff stressed during the meeting held at the Argentine consulate, which was also attended by the Argentine ambassador to the United States, Jorge Argello.A positive agreement with the IMF is a national priority that includes all sectors of Argentine society. In this sense, Mansour endorsed Argentina’s will to repay the debt and emphasized that “this has a consensus within the Todos front and we want to present it to Congress and have the support of all political sectors until it is approved there.”
The Prime Minister also said that he seeks to “conclude the best possible agreement that is sustainable and allows the country to continue on the path of recovery that does not hinder development, but on the contrary accompanies it.”. Finally, Mansour invited investors to Argentina for meetings with the national private sector and with the highest political authorities in the government.
Guzmen, for his part, highlighted the importance of “enhancing debt sustainability, both from a macroeconomic and a political standpoint,” and argued that it was necessary for the National Congress to have a greater presence in foreign currency debt decisions “so that the macroeconomic stability of state policy This strengthens Argentina.”
In addition, the President of the Palacio de Hacienda stated that he aims to reach a program that “includes conditions that define a path compatible with the sustainability of debt maturities.
Before investors, the minister highlighted the work that had been carried out in debt restructuring with private creditors, and specified that it allowed interest payments to be reduced “from 3.4% of the product to 1.5%, creating space that we can advance in the public policy scheme to reassure the economy.”
In turn, Guzmn pointed out that in the framework of COVID-19The state should have an anti-cyclical role to support economic recovery and specify that since Argentina is below what its potential direction should be, the state should have a policy in which spending grows in real terms. In this sense, Guzmen noted that the second role of the state should have the ability to invest in key sectors to promote the growth of the economy in infrastructure, science, logistics, innovation, research and health. We need to strengthen the state.
In this sense, Guzmen emphasized that “systematically relying on debt and money issuance generates problems in the economy” and explained that “this is why we consider it important that the deficit should decrease gradually.”
After the presentation, national government officials answered businessmen’s questions regarding the state of the Argentine economy and the outlook for the coming year.
Matas Silvani (GoldenTree Asset Management); Alberto Addis (NWI Management LP); Soledad Lopez (Morgan Stanley); Robin Klicksberg (Redwood Capital Management); Claudia Castro (Invesco USA); Louis Simon (Asset Management at Goldman Sachs); Martin Maron (JP Morgan); Gerardo Bernaldes (Carval Investors); Gustavo Ferraro (Gramercy Management Company); Daro Lizano (PointState Argentum); Fernando Grisalis (Schroders); Pablo Golberg (Black Rock); Gustavo Palazzi (VR Capital Group); Diego Ferro (M2M Capital); And Anders Ledermann (Fintech).
Official sources told Talam that Mansour, who arrived yesterday in the United States to accompany the government delegation headed by Guzman, held a working breakfast with Ambassador Argello and the economic minister’s team, in which he also participated in the Argentine consul in New York. Santiago Villalba.
“In New York, with the Prime Minister of the Argentine Flag Ministers Juan Mansour. On the way to @ARGenNewYork where, with Economy Minister Martin Guzman, we will participate in a meeting with an important group of investors in our country,” Argello said this afternoon via Twitter.
According to the chief of staff he explained to the press on Tuesday, his trip to the United States is intended to “accompany Secretary Guzmán, at the direction of the President (Alberto Fernandez) “At meetings in that global financial center.
Guzmán held bilateral meetings yesterday with his counterparts from Russia, India and Saudi Arabia, the Prime Minister of Barbados and the Director of the G-24 Secretariat, Marilou Oy, as part of his trip to Washington, United States, to participate in the conference. The Group of Twenty and the Annual Assembly of the International Monetary Fund (IMF)International Monetary Fund) and the world bank.
At the meetings, the President of the Palacio de Hacienda was accompanied by the Director of the Southern Cone to the IMF, Sergio Chodos, and the Head of the International Affairs Unit, Maya Kolodenko, informed the Economic Portfolio in a statement.
The minister met with the Deputy Minister of Finance and Deputy of the Russian G-20, Timur Maksimov, and the Dean of the Executive Board of the International Monetary Fund in that country, Alexei Muzin, with whom he “continued to strengthen bilateral relations and coordination on matters of common interest.
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