Government endorsed investor willingness to strike deal with International Monetary Fund
The chief of staff Juan Manzor and the Minister of the Economy Martin Guzmin met at the Argentine consulate in New York with businessmen and investors of American companies.
The government endorsed American businessmen and commercial investors in its desire to strike a “positive agreement” with the International Monetary Fund, in a meeting in which the main directions and views of the economy and Argentine politics were presented and a dialogue took place. About the progress of negotiations with the agency, officially.
At the meeting held at the Argentine Consulate in New York CityChief of Staff Juan Mansour stressed that “the positive agreement with the International Monetary Fund is a national priority which includes all sectors of Argentine society”.
In front of a group of investors and businessmen, Mansour and the Minister of the Economy, Martin Guzmen, gave details on the political trajectory and the roadmap of the economy, stressing that President Alberto Fernandez “Was entrusted with the task, within the framework of the dialogue, of generating the necessary understandings for Argentina to recover in a lasting manner.
During the meeting, which was attended by the American Ambassador to the United States, Jorge Argello, Mansour endorsed Argentina’s desire to repay the debt and stressed that “this is the subject of a consensus within the front Todos “and said that the intention of the government citizen is to” transfer it to Congress and gain support from all political sectors until it is approved there. ” “.
The chief of staff also indicated that he seeks to “reach the best possible agreement, which is durable and allows the country to continue on the path of a recovery which does not hamper development but, on the contrary, accompanies it ”.; He invited investors to Argentina for meetings with the domestic private sector and with the highest political authorities of the government.
Guzmen, for his part, stressed the importance of “improving debt sustainability, both from a macroeconomic and political perspective” and argued that there is a need for Congress to be more involved in decisions. relating to foreign currency debt “for macroeconomic stability. country and this strengthens Argentina.
In addition, the Minister of Economy said the aim is to achieve a program that “includes conditions that establish a trajectory consistent with the sustainability of debt maturities”.
He also underlined the work carried out in terms of debt restructuring with private creditors, specifying that it made it possible to reduce interest payments “from 3.4% of the product to 1.5%, thus creating a space so that we can move forward in the scheme of public policies to reassure the economy. . “
After the presentations, representatives of the national government answered questions from businessmen regarding the state of Argentina’s economy and the outlook for the coming year.
“The positive agreement with the IMF is a national priority that includes all sectors of Argentine society.”“
Later, when evaluating the meeting, Mansour stressed that it was “a very fruitful meeting where the will and political decision of the Argentine government to agree with the IMF, it is clear that this does not mean hindering the development of Argentina “.
“We received a series of inquiries, questions and comments, all of which were answered; Minister Guzmen detailed the measures taken, the progress made in the framework of a lasting and viable agreement and above all things that are sustainable in the medium and long term.
for this part, Guzmen also called the meeting “very productive” and noted that “in 2016, under the previous government, a large part of those present today started investing in Argentina with the expectation of a path. which subsequently collapsed and led to a very strong credibility problems due to the failure of the economic model There are wounds that must be healed..
“Our government is leading a process of strengthening the Argentine Republic as a nation-state, on the basis of dialogue between all political and economic sectors, and it is embarking on this path that allows to end a more Argentina. strong with more action, stability and vitality. ”He added.
In turn, Argello indicated that this meeting culminates “a week of intense work with interlocutors of all kinds with the aim of creating favorable political and economic conditions to reach a positive agreement with the International Monetary Fund”.
Argello also considered the presence of the Chief of Staff at this working meeting as “very important” because “all the technical and political issues which clearly show the government’s full decision to move forward with a lasting and sustainable agreement with the International Monetary Fund were presented. “
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).