In line with the message left by the IMF, the US government informed Javier Miley that “this is the case “Vital importance to protect the most vulnerable groups” During the financial “stabilization” process.
“Protecting the most vulnerable during this transition period It will be a challenge“But it is very important,” Al said US Treasury Secretary Janet Yellen This was during his meeting with Luis Caputo, on the sidelines of the G20 finance ministers’ meeting, which concludes today, Thursday, in the Brazilian city of Sao Paulo.
In her first meeting with the Minister of Economy, the senior American official admitted that the Liberal administration, which has been in power since December 10, 2023, “inherited a daunting task to achieve economic stability.”
But at the same time, he admitted that he had “already taken some important steps towards re-establishing fiscal sustainability, adjusting the exchange rate and combating inflation,” through a broad package of public spending cuts and liberal reforms.
He noted that “there is no doubt that this has been and will continue to be a difficult period of economic transition for Argentines,” and later stated that “protecting the most vulnerable” is “of vital importance.”
For his part, Caputo stressed that the Argentine people are taking action “Huge effort” To endure the economic situation,” which he described as “very bad.”
“The good thing is that we have a president” who “did not lie during the election campaign” and “was very open and honest” and they voted for him in the elections and “gave him a mandate to go ahead with those reforms” with which the government hopes to overcome the inflation crisis plaguing the country.
Caputo predicted that “it will be difficult and difficult in the short term,” but “we are convinced that there will be a turning point” from which the situation will improve.
“An active and constructive relationship”: expectations for the relationship between Argentina and the United States
For her part, Yellen congratulated the Argentine Minister of Economy “for his leadership throughout this period,” and stated that she sees “many areas for cooperation between the United States and Argentina.”
“I expect an active and constructive relationship “Between the US Treasury and the Economy Ministry,” Joe Biden’s Treasury Secretary said.
On Wednesday, also in São Paulo, Caputo met with the Executive Director of the International Monetary Fund, Kristalina Georgieva, who also praised the Argentine government for its “efforts” to restore economic stability in the country.
That meeting also came on the sidelines of the G20 finance ministers’ meeting, who met between Wednesday and Thursday in Sao Paulo, the largest city in Brazil, which this year holds the rotating presidency of the forum, to talk about inequality and growth prospects. International taxes and debts.
Kristalina Georgieva, Director General of the Fund, said: “Excellent meeting with Luis Caputo. I welcomed the continued efforts made by the authorities to restore stability, support the most vulnerable groups, and mobilize support for reforms.”
The IMF has already left a message to the same effect as the US government. That was when the organisation's Deputy Director-General, Geeta Gopinath, visited Argentina last week.
In a statement, the IMF official recommended to Miley's administration that “working pragmatically to obtain social and political support is also necessary to ensure the continuity and effectiveness of reforms.”
