The Secretary of Finance maintained that “the conditions are being created so that private investment, which is what generates growth, is at the center of the Argentine economy.”
For the Secretary of Finance, Pablo QuirnoHE “They are creating the conditions so that private investment, which is what drives growth, is at the center of the Argentine economy.” The official said that “the clean-up of public accounts is essential to have a macroeconomic order” and, in this way, the weight of the State can be “removed from the private sector.”
In this sense, he confirmed that “the macro order is what will inevitably produce, and is producing, a drop in inflation.”
When speaking at the Stock Exchange, Quirno also asserted that “the interest in Argentina in the world is enormous,” which “allows us to attract foreign direct investment and national investment.” This context is where “the Large Investment Incentive Regime (RIGI) becomes a very important instrument”, He pointed out in an exhibition this Monday at the Buenos Aires Stock Exchange, where World Investor Week takes place.
Regarding the monetary policy of the Central Bank he said: “Banks have to start acting like banksand then they have to start financing private activity. The first thing that has appeared, five months after having been on the brink of hyperinflation and on the brink of a terminal crisis in Argentinais the mortgage credit“.
Quirno and access to the capital market
“From the lack of need for the Treasury to finance itself in the markets, financing for companies appears. Today we have between eight and 10 companies, that have accessed the international capital market and managed to finance themselves with rates within one digit,” Quirno added.
Regarding the capital market, he said that it is “very small, the product of many years of do things wrong. And also having killed savings. So in a market that is growing little, a transfer is taking place where the proportion of private market begins to beat the public market share. There, what we have to have is the “responsibility of generating that source of savings to be poured into the capital market”.
They also participated in the event Robert Silvapresident of the National Securities Commission; Adelmo Gabbipresident of the Buenos Aires Stock Exchange; Santiago Bausilipresident of the Central Bank of the Argentine Republic; Daniel Gonzalez, Secretary of Energy and Mining Coordination of the Nation; and Luis LuceroSecretary of Mining of the Nation.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
