Fernández Receives Argentina’s Economy Minister After US Trip – 09/13/2022

Buenos Aires, Sep 13 (EFE).- Argentine President Alberto Fernandez met his Economy Minister Sergio Massa this Tuesday to assess the results of the economic portfolio holder’s recent visit. According to official sources.

As indicated by the Argentine president, Fernández and Massa examined the minister’s working meetings with US government officials, including Treasury Secretary Janet Yellen, and meetings with US investors and businessmen.

Massa, who went to the United States on the 5th and returned to Argentina today, also informed the President about the “progress in management” with international credit institutions.

Among other things, Masa, who took over as Economy Minister last August, met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva and Inter-American Development Bank (BID) President. , Mauricio Claver-Caron.

This Monday, Massa described his meeting with Georgieva as “excellent”, with whom he reviewed the progress of the refinancing agreement signed in March of this year by Argentina and the Fund, which includes quarterly revisions of fiscal, currency and exchange rate targets the country promised.

Georgieva, in turn, acknowledged in a statement the “strong measures” taken by the Argentine government to stabilize markets and reverse the “high volatility” situation.

Reducing the primary deficit, reducing monetary aid to the Treasury and accumulating cash reserves pledged to the IMF remain a major challenge for Argentina, which is now focused on increasing the inflow of dollars through exports, investments and loans from multilateral institutions.

Against this background, and in the framework of Massa’s visit to the US, last week the World Bank announced that it would provide Argentina with a US$900 million loan over the next six months. Between 2022 and 2023, USD 4.93 billion is to be disbursed. EFE