According to official sources confirmed to this newspaper, the most important investment announcements will take place in the automotive, hydrocarbon, lithium extraction and logistics development sectors. In this sense, the minister is expected to hold meetings with executives from Chevron, Exxon, Shell, Total, Volkswagen, Rio Tinto, Livent and Amazon, among other.
“The mission aims to consolidate support in the US for the stabilization of the Argentine economy and strengthen reserves through more markets for national exports, more productive investments in strategic sectors such as energy, gas, agribusiness, proteins, services based in knowledge, mining and more foreign currency income from receptive tourism”, they highlighted in the surroundings of Massa.
The intense work agenda, coordinated by his international adviser, the diplomat Gustavo Martínez Pandiani, together with the ambassador Jorge Arguello, includes a meeting with the head of the Inter-American Development Bank, Mauricio Claver-Carone. There, as confirmed by the Government, the Minister of Economy will seek to speed up a series of disbursements that the multilateral organization has stopped and that could add some US$600 million to reserves.
The last item on the agenda, and perhaps the most important, is the scheduled meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund. Massa will be accompanied by the technical team from the Ministry of Economy that includes Leonardo Madcur, Lisandro Cleri and Marco Lavagna. The officials will arrive with a series of fiscal order signals that include a cut of $128,000 million in different budget items, the freezing of the plant of the State companies and the new tariff scheme that includes a strong cut in energy subsidies.
In this framework, a novelty in the relationship with the IMF appears to be the confirmation that Argentina will seek a new credit through the Resilience and Sustainability Fund which was designed to help low- and middle-income countries ensure sustainable growth. This instrument arises from a battle that local diplomacy waged in the international concert while discussing the terms of reformulation of the failed stand-by program signed in 2018.
Source: Ambito
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