Economy Minister Sergio Massa is preparing together with the delegation of Argentine officials in Washington for this Wednesday’s appointment at the White House, where President Joe Biden will receive Alberto Fernández. But, beyond that key meeting, the Tigrense has own agenda in this city in a critical week for Argentina.
Massa was only able to enjoy some of the cherry blossom scenery this week in the city in the late afternoon, at a sidewalk table at the Willard hotel, where the Argentine entourage are staying. Surrounded by his collaborators, the minister answers calls from Buenos Aires, monitors the movements of the dollar. He spent the whole day doing the classic tour of power – especially the economic one – in Washington, cWith meetings at the Treasury, the Bis, the World Bank and the Immigration and Control Service (Homeland Security) with different objectives.
But try to focus on tomorrow because two key meetings await him this Wednesday: the first in the morning with the number two of the International Monetary Fund, Gita Gopinath(Kristalina Georgieva is in Asia) and the other in the afternoon with Janet Yellen, the US Treasury Secretary, who will integrate with Massa the expanded meeting of Biden and Fernández, which will be attended by the ministers of both countries.
These encounters happen when the agency’s executive committee is reviewing approval of the fourth program review with Argentina, where a relaxation of the reserve target is proposed because the government cannot comply, due to the follow-up and other variables. The board is estimated to approve the goal change in a meeting — likely this Friday — but the numbers could get even worse next quarter, and it may need to even more flexibility from the Fund.
This is why the role of the United States is fundamental, as, due to the size of its economy, it is the country that carries the most weight in any council vote on the matter. Gopinath will discuss all this with Gopinath this Wednesday, especially the future steps. And it is also possible that the theme is present in the meeting with Biden and Yellen, even if from Economy they prefer not to focus the debate on that.
“In the White House we don’t want to talk about problems, we try to present Argentina’s opportunities”, They say from the delegation. And they refer to the potential of our country as “strategic partner” of the United States. on issues of global food security and energy, for its lithium and shale reserves.
Massa was at the Treasury early where he did not see Yellen, who – they tell the Economy – will see today in the White House in a more formal context. Then he went to the IDB to meet the president Ilan Goldfajn, the Brazilian who prevailed in the last election with the support of Lula, Biden and Alberto Fernández, among others. With him he reviewed the question of the disbursements that the bank will have to make in the next six months.
greedy for funds, Massa tries to scratch the bottom of the pot in all international organizationss because the loans, even if for public works, come in dollars and are made in pesos. Every dollar counts when it comes to building reserves and meeting program goals. This is why he spoke of speeding up loans also with the World Bank, with telephone calls from Washington to the president David Malpass and Axel von Trotsenburg, operations chief executive officer
The minister was also in the offices of homeland security together with the director of customs, Guillermo Michel, to speed up the exchange of customs information with the United States, through the Trade and Transparency Unit. have a customs representative in Miami more immediately analyze the information provided by the United States.
Massa will leave Thursday morning for Miami, where he will hold a conference and then continue on to Buenos Aires.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.