The Minister of EconomyAnd the Serge MassaHe’s going to make his first trip abroad yet take office 3 last August. It will be held during the first week of September, visiting cities Washington s Houstonin United State.
In the midst of the economic crisis that the country is going through, the agenda of the ruling party states that the purpose of the mentioned trip is to seek to attract investments to the sectors of the Argentine economy. In this way, it will be possible to strengthen the reserves central bankin sharp decline.
In addition, it is estimated that Massa will meet with American companies that have investments in Argentina. also There will be a meeting with manager IMFAnd the Kristalina Georgiev.
During the American tour, Massa and his entire entourage will meet several people. Among the companies that Massa will hold business meetings with are oil companies Chevron, Exxon, Shell s the totalthe cars VolkswagenMiners Rio Tinto s Levent (lithium) and the group Amazon.
The Minister will meet later in Washington with the Coordinator of the President of the United States, Joe Bideninfrastructure, investment and energy, Amos Hochstein.
He will also hold meetings with the President Inter-American Development Bank (IDB), Mauricio Claver Carone; Managing Director of world bankAnd the Axel van Trotzenburg And with the powers of the Treasury.
On the other hand, the head of the economics department will hold talks with several American companies that have investments in our country.
Finally, he will meet Massa John GonzalezBiden’s Latin American advisor National Security Councilwith the head World Jewish Congress, Jack Rosen; And with a manager American Jewish Committee, Dina Siegel Van.
Massa and Georgieva together
A very important point in Sergio Massa’s tour on American soil will be the meeting with the Director of the International Monetary Fund, Kristalina Georgieva. At this meeting, Massa will accompany Leonardo MadcorChief Advisor to the Ministry.
They will be part of the entourage Lysander ClaireI- Member of the Board of Directors of the Central Bank Marco Lavagnaboss INDIC. head National BankAnd the Silvina Patakis.
The mission of the meeting with Georgieva aims to strengthen support in the United States to stabilize the Argentine economy and strengthen reserves through more markets for national exports.
Additionally, among other objectives, it will pursue more productive investments in strategic sectors such as energy, gas and agribusiness, to name a few.
New IMF loan: further adjustment?
Presidential Spokesperson Gabriella Cerruti He spoke about this topic at a press conference. He confirmed that Massa and his accompanying delegation will request the granting of the Resilience Fund to the International Monetary Fund, in search of strengthening the reserves of the Central Bank.
It is a loan from the Resilience and Sustainability Fund, a special fund of the agency that can be negotiated from October. This was established in April of this year with the aim of enabling low- and middle-income countries to access long-term financing.
In addition, rates are offered lower than those usually offered by the agency, linked to “environmental and health policies”. The maximum fund term is 20 years and a grace period of 10.5 years, at a lower rate than regular programs.
Cerruti clarified that the amount to be negotiated, which has not yet been determined, does not constitute a new IMF loan, but rather a “new international financing mechanism for countries”.
He added: “This is not a loan from the International Monetary Fund, but rather the Resilience Fund, which is a new international assistance mechanism that has to do with the Special Drawing Rights.” SDR is Special Drawing Rights.
According to the agency ReutersArgentina was analyzing the loan application in the same October, with a maximum of 1.35 billion US dollars, which it could request depending on its participation in the organization.
The truth is that no matter how large the resilience and sustainability fund Massa will negotiate with the IMF, there will undoubtedly be more adjustment for the Argentine people.
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