For their part, sources from the Ministry of Economy, led by Sergio Massa, confirmed to Ambit that a delegation of officials from the portfolio will travel next week to refine the details of the point of the agreement that concentrates the attention of the Palacio de Hacienda at this time: financing for imports from the main trading partner.
As anticipated by this medium, the one-year financing line for imports from Brazil It will be operational in the next 90 days. The loans will be arranged through Banco Nación of Argentina and Banco do Brasil and will represent a “substantial increase in commercial credit available to the private sector.”
As Scioli explained to this medium, the sectors that will immediately see a greater benefit are the automotive, food and textile sectors. These are three areas where there is a fundamental exchange between production chains with inputs and intermediate goods on one side of the border and the other.
The ambassador, who met yesterday at the Sheraton Hotel with officials from the Economy and the Foreign Ministry to consolidate the steps to follow, also stated that the measure will allow accelerating the recovery of bilateral trade that has been taking place in the last two years and that they will aim at Equate the balance forward.
The Argentine businessmen consulted by Ámbito trust that the mechanism will speed up purchases abroad from that destination. The lack of dollars is currently the issue that generates the greatest concern in the industry, which is already discussing with the Secretary of Commerce the guideline for the allocation of foreign currency for this year.
In the environment of Sergio Massa they bet that the demand for official currencies will slow down with the impact of the agreement signed with Brazil. If importers manage to finance part of their purchases, this would speed up the accumulation of net reserves of the Central Bank.
new ambassador
In record time, Argentina awarded the placet to the new ambassador that Lula appointed in the country. This is Julio Glinternick Bitelli, a man close to the new Foreign Minister Mauro Vieira who until now was serving in Morocco. In the Government, they point out that the speed with which the document was dealt with is one more gesture of the good relationship between Alberto Fernández and Lula Da Silva.
The diplomat, whose appointment must be approved by the Senate, will replace Reinaldo José de Almeida Salgado, who was appointed by former President Jair Bolsonaro. Bitelli is a scholar of the bilateral relationship and has already held positions in Buenos Aires on two occasions: he was responsible for the political sector between 2003 and 2006, and Minister Counselor between 2010 and 2013.
Mercosur objective
According to sources from the Brazilian delegation confirmed to Ámbito, Lula will travel to Montevideo this Wednesday to meet with the president of Uruguay, Luis Lacalle Pou. One of the objectives of the meeting will be to make clear the shift in Brazil’s position regarding the course of Mercosur.
With twists and turns, under Bolsonaro’s leadership, the neighboring country supported the idea of making the bloc “flexible.” Beyond the moderation in tone that Itamaraty managed to impose, the Executive of the main economy in the region has pressured in the last three years for the reduction of tariffs and for accelerating trade agreements that do not contemplate the prioritization of local productive sectors.
That will change after the arrival of Lula. According to what sources familiar with the agenda that will be discussed with the Uruguayan president told this outlet, one of the objections that the new president of Brazil will make will be the negotiation that Lacalle Pou intends to carry out with China unilaterally.
Source: Ambito
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