Economy Minister Luis Caputo asked to continue reviewing IMF policies so that it can respond quickly and effectively to the needs of member countries. He also signed, together with his Luxembourg counterpart, the Protocol of Amendment to the Convention to Avoid Double Taxation between both countries.
The Minister of Economy continues on tour, Luis Caputoin Washington D.C.. this friday participated in a restricted breakfast and the Plenary of the International Monetary and Financial Committee (IMFC) where the prospect for the global economy in the short and medium term and the Global Policy Agenda of the International Monetary Fund (IMF) were discussed.
Caputo pointed out that although the global economy is in a moment of stabilization, there is a need to review the fiscal situations in many countries and He asked to continue reviewing IMF policies so that it can respond in an agile and effective manner to the needs of member countries.
Before, the Minister of Economy signed, together with his Luxembourg Finance counterpart, Gilles Roth, the Protocol of Amendment to the Convention to Avoid Double Taxation between both countries. According to the Government, this “will allow the treaty to be aligned with the Argentine tax policy contained in its current network of agreements, so that it can be submitted to the approval process before the Honorable Congress of the Nation and, thus, come into force.”
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World Bank Development Committee Meeting
During the day, Caputo was present at the meeting of World Bank Development Committee and noted that there is great expectation for the agency’s next strategy for middle-income countries, as it “will contribute to achieving sustainable and lasting growth.”
At the meeting, Caputo He considered that in Argentina “a marked reduction in inflation was achieved by taking measures to address the fiscal deficit, while social protection programs were expanded.”
The aforementioned achievements were achieved thanks to profound structural reforms, the minister stated. Nevertheless, He warned that additional efforts are required and called for a more active role for the World Bank: “it is vital to consolidate these reforms and ensure the path to economic recovery.”
For Caputo, the high cost of loans is an obstacle to development and welcomed the recent adjustments to the pricing structure of the World Bank Development Committee, which are aligned with the reduction of charges and surcharges in the IMF.
Source: Ambito
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