Luis CaputoArgentina’s Minister of Economy, met last Friday, July 26, with Janet Yellen, Secretary of the Treasury of the United States, within the framework of the G20 meeting in Rio de Janeiro, Brazil.
During this meeting, Luis Caputo He resumed a request that Kirchnerism had raised in its last administration under Alberto Fernández: to lower the surcharges of the International Monetary Fund (IMF).
These surcharges represent an annual cost of approximately US$1.1 billion for Argentina due to a surcharge of 300 basis points. The objective of this request is to achieve relief in the payment of interest and reduce the financial burden for the country.
Caputo stressed the need to move forward with discussions on the review of the surcharge policy at the IMF Board of Directors. In addition, Janet Yellen is a key official for Argentina’s international financing, as she represents the United States on the IMF Board..
Although negotiations to reach a new agreement with the IMF are cold for the moment, this meeting between Caputo and Yellen could be an important step in the search for financial solutions for the country.
The Argentine government is seeking to raise between $10 and $15 billion in key meetings with international organizations. The Argentine ambassador to the United States, Jorge Argüello, has expressed his concern about the trade restrictions that the United States maintains.
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Despite highlighting the “ongoing talks on human rights, climate change, gas, lithium and oil,” Argüello has urged the United States to take concrete initiatives to stop restricting trade between the two countries and promote investment in Argentina.
On the other hand, the head of US diplomacy, Antony Blinken, has urged Argentina to implement an economic policy that recovers growth while negotiating with the IMF the refinancing of its multi-billion dollar debt. The meeting between Luis Caputo and Janet Yellen reflects the Argentine government’s efforts to ease its financial burden and find solutions for the country’s economy.
