Chief of Staff Juan Manzor and Economy Minister Martin Guzmin met at the Argentine Consulate in New York City with businessmen and investors from American companies.
The government ratified to businessmen and investors in American companies its readiness to reach a “positive agreement” with the IMF, at a meeting at which the main guidelines and views of Argentine politics and economy were presented, and there was a dialogue about the progress of negotiations with the agency was officially reported.
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 that includes all sectors of Argentine society.”
In front of a group of investors and businessmen, Mansour and Minister of Economy, Martin Guzmen, conveyed details about the political path and roadmap for the economy, highlighting that President Alberto Fernandez “has been assigned a task, out of dialogue, to generate the understandings necessary for Argentina to recover sustainably.”
During the meeting, which was also attended by US Ambassador Jorge Argello, Mansour endorsed Argentina’s will to honor the debt and emphasized that “this has a consensus within the Todos front” and said that the government’s citizen’s intention is to “transfer it to Congress and have the support of all political sectors so that it is approved over there”.
The Chief of Staff also stated that he seeks “to conclude the best possible agreement, which is sustainable and allows the country to continue on the path of recovery that does not impede development but, on the contrary, accompanies it.”; It 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 from a political standpoint” and argued that it is necessary for Congress to have a greater presence in foreign currency debt decisions “for macroeconomic stability. country and this strengthens Argentina.”
In addition, the Minister of Economy explained that he aims to reach a program that “includes conditions that establish a path compatible with the sustainability of debt maturities.”
He also highlighted the work carried out in debt restructuring with private creditors, specifying that it allowed interest payments to be reduced “from 3.4% of the product to 1.5%, creating space so that we can advance in the public policy scheme to reassure the economy.”
After their presentations, national government officials answered businessmen’s questions regarding the state of the Argentine 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 emphasized 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 impeding the development of Argentina.”
“We received a series of inquiries, questions and comments, all of which were answered; Minister Guzmen detailed the steps being taken, the progress that has been made under a sustainable and workable agreement and above all things sustainable in the medium and long term.”
for this part, Guzmen also described the meeting as “very productive” and noted that “in 2016, under the previous government, a large part of those who were present today started investing in Argentina with the expectation of a path that subsequently collapsed and led to very strong credibility problems as a result of the failed economic model There are wounds that must be healed.”.
“Our government is in the process of strengthening the Argentine Republic as a nation-state, on the basis of dialogue among all political and economic sectors, and it is going on this path that allows to end a stronger Argentina with more action, stability and dynamism.” 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 for reaching 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” as “all the technical and political issues that clearly show the government’s full decision to move forward with a sustainable 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).
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