The Minister of Economy, Luis Caputo, was charged this Wednesday with tone it down to the most radical measures of Javier Milei’s economic program during the Davos Economic Forum, where the official delegation met dozens of executives from some of the world’s leading companies And pagehe opposeddollarization and the closure of the Central Bank for later.
“The objectives of closing the Central Bank anddollarization, far from being excluded, They continue to be an objective of this Governmentit’s just that the conditions to do so aren’t there yet. First you need to stabilize yourself the economy and as soon as the conditions are there, it will be done,” Caputo said at an international press conference during the summit in Switzerland.
Against a backdrop of renewed pressure on exchange rates and after record inflation of 211% per year in December, the Economy Minister was cautious in making price projections. “There’s no way to make a prediction about it, because otherwise you’d be trapped. “We hope things will improve by the end of the year.”he said, as reported The nation.
“The faster we implement our program, the one that people voted for, the faster the economic situation will improve. And the recession will be shorter,” Posse said.
The two officials and Chancellor Diana Mondino met with administrators and representatives of banks, companies in the energy, natural resources and pharmaceutical industries, who expressed their interest in expand your investments and their participation in the country with the expectation placed in the omnibus bill being discussed in Congress, according to the authorities.
The meetings were with administrators of Amazon, Glencore, Total, Naturgy and MSD. “Amazon Web expressed its interest in our country, highlighted the capabilities of Argentine human capital and underlined the advantages for entrepreneurs”, reads the official statement on the meeting with Jeff Bezos’ company, which last month last year he denied the rumors of his landing in Argentina.
Meanwhile, Glencore, the Swiss-based global natural resources company, has shown interest in expanding its future investments in Argentina. In July, the mining company reached an agreement with Pan American Silver to acquire 56.25% stake in the MARA copper project and become the sole owner of the development located in Catamarca province.
A meeting also took place with the International President of Human Health of MSD, the multinational pharmaceutical company based in New Jersey, United States. The agenda concluded with an exchange with the executives of Naturgy, the Spanish energy company operating in the electricity and gas sector. The sector looks forward to progress on reforms and rate hikes.
Posse and Caputo also met with Germany’s secretary for financial and European policies, Joerg Kukies, and the German government’s minister for special affairs, Wolfgang Schmid, with whom they discussed sustainable energy and mining. The latter will benefit from the omnibus law, as restrictions on operating in forest and glacial areas will be eliminated.
The officials also accompanied Milei in the meeting he had with the head of the International Monetary Fund (IMF), Kristalina Georgieva, who said she was enthusiastic about the program and the economic team, according to the official report, but did not reveal details about when. The agency will approve the agreed upon disbursement of $4.7 billion.
“Excellent meeting with Argentine President Javier Milei. We talked about Argentina’s profound economic and social challenges and the decisive measures being taken to reduce inflation, promote private sector-led growth and use scarce public funds to help the most vulnerable people,” he said Georgieva on the X network.
Posse, Caputo and Mondino also spoke in Davos on the economic reforms promoted by Milei in the panel “Dialogue on the national strategy on Argentina”, moderated by the former president of the Inter-American Development Bank (IDB), Luis Alberto Moreno.
Source: Clarin
