The current administration dedicated itself to attacking countless countries with which our Nation maintains commercial-economic ties.
Since November 20, 2023, he emerged as the winner of the second electoral round and subsequently of 30% of the votes he obtained in the general elections, which is the election that counts because it constitutes the legislative chambers for the entire mandate and He only received 30% of the positive votes. The current administration dedicated itself to attacking countless countries with which our Nation maintains commercial-economic ties. Naming the most relevant to date
Brazil: our main commercial partner and with whom Mercosur has united us since the 80s of the 20th century. Mr. President Milei dedicated himself to saying that he was not going to associate with “communists” and even verbally attacked his current President Luiz Inacio Da Silva –Lula-during this week that passed and as a consequence of having paralyzed the works of the 2nd section of the Néstor Kirchner gas pipeline (for a total of US$ 40 Million) our country was left without gas fluid and had to turn to Brazil to purchase 10 Liquefied Gas regasification ships to incorporate into our national network for a total of US$500 million. As a result of not having paid in advance as all these purchases are made, or as they say on the street “against the back of a truck”, the first ship that arrived refused to unload the gas it contained; After asking him to please do so through Chancellor Diana Mondino, President Lula Da Silva agreed to unload the fluid given the commitment to make the payment shortly, but not before telling him “…it’s okay to unload the gas, because the people “Argentinian people do not deserve to suffer the inclement weather, even if the President is so aggressive towards me….”
China: With the same argument that they used with Brazil, they also attacked the Republic of China, which is our country’s second trading partner. Upon finding a shortage of US dollars in the BCRA, the Chancellor was sent to negotiate the renewal of the currency SWAP that has been in force since 2013 and taking advantage of the fact that in 2016 the YUAN was declared by the Bank of Basel as an international reserve currency, they were incorporated. to the BCRA. The result after the aggression against China and the stoppage of the works of the 2 dams that they were building, was not only that they were not going to maintain and/or increase the SWAP but that by June 30 at least we are going to have to return part of the duly approved SWAP.
Spain: taking into account that it is the 2nd country with investments in our country and in the face of the unjustified insult of the Spanish Minister of Transport, from which he did not retract, to the President. He had no better idea than to respond by offending the Spanish Prime Minister’s wife, generating a diplomatic problem of proportions due to which the Kingdom of Spain withdrew its ambassador permanently from our country. At an economic level this brought the following problems: 1- of all the owners of the most important companies in Spain, only 1 attended the meeting organized by the President when he made the personal visit; 2-Spanish companies working in our country expressed their displeasure at the current situation and are constantly evaluating its continuity; and 3-the Prime Minister gave the order to his representative in the PARIS CLUB that if our country pays part of the Chinese SWAP at the end of June run immediately and in cash the PARI PASSU clause of the agreement signed between the end of 2022 and the beginning of 2023 by which Argentina began to pay, to the extent possible, from 2026 the debt that remained from the 2001 loan requested by the government of Fernando DE LA RUA in which Federico STURZENEGGER participated. Which was definitively and effectively renegotiated by Axel KICILLOF as Minister of Economy and only the last installment remained to be paid in May 2016, which the government of Mauricio Macri refused to do.
All this leads us to argue that as a consequence of inactions and untimely ways of taking international politics, our country at the end of next June may lose close to US$ 5 million of the BCRA’s international reserves, further aggravating the economic-financial crisis that we are experiencing. since no one dares to lend money to the government.
ECONOMIC ANALYST AND TAXIST
Source: Ambito
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