In this framework, Massa, with good ties abroad, is putting together his tour for the third week of August. He will begin with a visit to both the International Monetary Fund –with an emphatic message of continuity with the program already signed. This means that Argentina will have to significantly reduce the level of spending, increase its level of reserves.
The new head of the Palacio de Hacienda invited Silvina Batakis to be part of the international tour. This gesture is to validate the importance of Batakis, who a few days ago appeared before the IMF, the United States Treasury and private investors, guaranteeing that his appointment had the support of the government. However, she did not finish boarding the plane that brought her to Argentina when she already knew that she was no longer Minister of Economy.
Somehow the fact that Batakis share these international meetings with Massa is give the message: “There was a change of roles, but not of course”. On behalf of the former minister’s environment, they confirmed the invitation.
Returning to future talks with the Fund, some specialists maintain that there is “margin” for the revision of some goals, such as, for example, the one corresponding to the fiscal deficit.
It is that it was stipulated at 2.5% of GDP, but when it was signed the conflict between Russia and Ukraine had not yet broken out. Fuel prices and complications in the supply of inputs raised international prices considerably. This issue may be contemplated by the multilateral organization, but this will not prevent, in any case, that the public accounts will have to adapt to an economic reality with high inflation, by accommodating delayed prices, such as the official dollar and tariffs.
investors
In the United States, it is estimated that Massa will hold meetings with the United States Treasury, with investors, since he also plans to go to New York. Massa has spoken more than once before the Council of the Americas, which he chairs Susan Segal.
Will surely accompany you on your tour Daniel Marxwho was known to be part of the Committee for the development of the Capital Markets and Monitoring of Public Debt. Marx is a well-known person in the world of finance as an international consultant.
The tour will continue in France to renegotiate the agreement with the paris club. Precisely Martín Guzmán planned to travel to speak with the authorities the same weekend that he resigned.
Meanwhile, New York and Qatar are the destinations to attract investors to Argentina. Although, in the international context, there has long been a lack of confidence on the part of investors regarding the reliability of the country – in fact, Argentine bonds have a lower valuation than those of Ukraine – it is also true that the conflict once again put to Argentina for its food and energy resources. “The brake is the instability of rules and doubts about the government’s economic orientation,” they complain. All these resentments are what Massa will have to face both abroad and at the local level.
Little by little the team that will accompany the new Minister of Economy is getting to know. At the appointment of Raúl Rigo in Treasury; George Domper as Deputy Secretary of Budget and Claudia Balestrini in charge of the Undersecretary of Public Revenues. Eduardo SettiFinance Secretary and will be part of the team Leandro Toriano, Natalia Capurso and Celeste Izquierdo. While, Lisandro Cleri will be the vice president of the BCRA and Leonardo Madcur the Chief of Advisors to the Ministry.
Source: Ambito
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