10/29/2020 5:20 PM
Clarín.com
Economy
Updated 10/29/2020 5:20 PM
The president of the Inter-American Development Bank (IDB),
Mauricio Claver-Carone
, assured that the Alberto Fernández government sent "misleading messages" to the markets and that the Argentine situation is "complicated."
"The Government has to understand that every policy it carries out, and every political or non-political dispute, has repercussions in the eyes of investors. There are policies that, whether intentional or unintentional,
send misleading messages to the markets,
" he remarked the strongman of the IDB in dialogue with
La Nación
.
There, Claver-Carone remarked that he already had contacts with the International Monetary Fund to talk about Argentina and that the IMF has already investigated whether the IDB can provide fresh funds to help the country lift the crisis.
"I told them that I have all the will to do it, to help Argentina. Now, the reality is the space we have in the portfolio.
It is more complicated, but we have the will to do it,
" he said.
In addition, he mentioned that President Alberto Fernández has "the political will to encourage and want there to be foreign investment in Argentina", but stressed that there were "misunderstandings" in the policies implemented such as the control of companies, as in the Vicentin case. , or in monetary controls and withholdings.
"Investors after the negotiation of private debt felt a relief,
but that honeymoon is over
. I think the Government is clear in the messages to investors, but it is not clear in the policies for investors. That is the challenge ", he assured.
Mauricio Claver-Carone, Donald Trump's strong man, today at the head of the Inter-American Development Bank.
AP Photo
In turn, he said that what Argentina has in favor today is that "the challenges of the past do not exist" since "
there is a consensus on the importance of foreign investment
."
And he remarked that he saw the President "speak at the United States Chamber of Commerce, seeking and with the political will to encourage and want foreign investment" in the country.
He also clarified that he sees in the Argentine government "well-intentioned policies" at a time "when it has to make difficult decisions."
"Not only Argentina. Small countries in the Caribbean, which have a thousand factors, depend on tourism, have climate issues, have an already overwhelming debt, and then they have to make decisions: either overcome current challenges to save lives, or mortgage the future and indebting the country. Add to Argentina, and it is not the fault of this administration, which
has already inherited a difficult situation
and the Covid has added to that difficult situation. And I think that the will of investors is much more sensitive than it was previously, "he added.
Finally, he referred to the "adjustments" that the Government should make in the economy when negotiating with the IMF, although he remarked that "
it is not that Argentina has too much space to adjust
due to certain realities."
"The adjustments in monetary policy are going to be important. There will be certain fiscal adjustments, but I don't think they are overwhelming. But there are certain realities that will have to be taken into account, and more difficult because the economic growth prospects have also been limited. with the Covid. What I think is that they could encourage more production and there I do believe that there is still a lot of room to improve, "he concluded.
PJB
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