The official of the global entity analyzed the Argentine situation: “the thing that worries me personally is that society has already been hit hard. People entered that crisis with very few resources and that means that there is a fragility today that may be greater than on other occasions.. The crisis is a reality in Argentine society, but it seems to me that this came at a particularly difficult time,” he explained.
In that sense, Fay noted that “we are ready to support and we are just talking to the Government to see how we can support.” “Our emphasis for now is really on social issues, to help mitigate the social impact. So we hope to help the Government improve and increase social transfers and their effectiveness,” he added.
“Whenever there is a new Government, it is difficult at first to get the machine going. That always happens. We are talking to the Government to see how we can help, make things simpler. And I’m hoping that the machine is getting going,” he analyzed.
Later, he stated that “We have a portfolio of more or less 8 or 9 billion dollars, of which half has yet to be disbursed, but that is disbursed in typically four years. “We have historically spent roughly $1 billion a year and we expect to do the same this year.”
Finally, he observed that “Latin America is a region with a lot of potential in green energy, more than other regions in the world. Why is the slowest economy emerging? Since 2010 it has grown 11%, a third of what Asia grew in the same period. “Low capital accumulation and limited competition.”
World Bank projected that the Argentine economy will recover in 2024
In January of this year, the world Bank estimated this Tuesday, January 9, that the Argentina will grow 2.7% in 2024, thus turning the 2.5% drop experienced in the previous periodwhile predicting that By 2025 the local economy would increase by 3.2%.
In its latest report, the entity stated that “The region’s economic outlook suggests a gradual recovery, with projected growth of 2.3% in 2024 and 2.5% in 2025,” compared to what 2023 turned out to be.
In 2023 “The Latin American and Caribbean region experienced a significant economic slowdown, with growth of only 2.2%”recalled the multilateral organization.
This slowdown, continued, “occurred against the backdrop of high inflation, tight monetary conditions, weak global trade and adverse weather events.”
Source: Ambito
