Argentina’s Economy Minister will go to the United States to attract investment

This content was published on August 25, 2022 – 19:39

Buenos Aires, August 25 (EFE). – Argentina’s Economy Minister, Sergio Massa, will travel to the United States on September 6 with the aim of attracting investments in “the real economy sectors,” Effie sources reported on Thursday. Team.

The minister, who took office on August 3 in the midst of strong fiscal and financial tensions, will lead a mission aimed at “strengthening support” in the United States for “the stability of the Argentine economy,” while seeking new markets and investments. To boost the country’s dwindling international reserves.

According to the sources consulted, Massa will visit Washington and Houston, where he will hold business meetings with oil companies Chevron, Exxon, Shell, Total, automaker Volkswagen, miners Rio Tinto, Levent and Amazon Group, among other companies.

During his visit to Washington, Massa will meet with the President of the Inter-American Development Bank (IDB), Mauricio Claver-Caroni, as well as with the Managing Director of World Bank Operations, Axel Van Trotsenburg, and “higher authorities”. From the US Treasury.

Sources from Massa’s team explained that “in the World Bank and the Islamic Development Bank, Massa will accelerate the disbursement of important loans for infrastructure, productive projects and foreign currency that will enhance the financial balance and reserves.”

In the American capital, the head of economy will also hold talks with about two dozen companies in the country that currently have “productive investments” in Argentina, while at the political level, he will meet with the Latin American National Security Adviser. Council, Juan Gonzalez, and with the President of the World Jewish Congress, Jack Rosen, among other figures.

On Friday, September 9, Massa travels to Houston with Energy Secretary Flavia Royon, and the heads of YPF oil company Pablo Gonzalez, and Energía Argentina (Enarsa), Agustín Gerez, with whom he will share the work. Meetings with representatives of Chevron, Exxon, Shell and Total companies.

Meeting with the International Monetary Fund

Sources from Massa’s team indicated that a meeting is scheduled between the minister and the managing director of the International Monetary Fund, Kristalina Georgieva.

“An intense work agenda, coordinated by his international advisor, Diplomat Gustavo Martinez Pandiani, with Ambassador Jorge Arguelo, will serve Massa to present himself in the capital of the United States as the new Minister of Economy and Chief Negotiator for Argentina,” a minister from the team reported.

So far, the measures announced by Massa are aimed at moderating spending, reducing cash issuance and increasing international reserves, but many analysts believe a tougher plan is needed to curb hyperinflation, which rose 71% year-on-year in July. EFE

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