Thursday, February 2

Industrialists, bankers, businessmen and agriculture supported the Government in the agreement with the IMF


“The conclusion of an agreement will be essential to achieve objectives such as strengthening public credit, access to national and international financing for the private sector, job creation, federal development and SMEs, among others,” completed from the G6, through a press release.

The Cereal Exchange suggested a “economic development program

The cereal bag It also issued a statement, where it celebrates the agreement with the multilateral credit organization in the search for a program of extended facilities to refinance debts and balance the deficit by 2025.

“It would be important for this type of understanding to allow the necessary policies to be implemented to recover an inclusive growth model based on increased production, growing exports with more value added, and private investment that is sustainable over time”, maintained the directors of the Cereal Exchange. And they added: “We believe that a policy of macroeconomic stability must be accompanied by an economic development program through stimuli and incentives that promote productive investment that allow our country to overcome the deep crisis it is going through.”

Jose Martins president Cereal Exchange of Buenos Aires and CAA

José Martins is the president of the Cereal Exchange and spokesman for the Argentine Agroindustrial Council (CAA).

In this sense, from the Cereal Exchange they reinforced their “willingness to dialogue” and the “spirit of collaboration” for the development of the new agenda. “As we stated at the beginning of the negotiations, we believe that the agreement with the IMF must be validated by all the political forces in the National Congress and by the Provincial Governments to achieve long-term and federal economic and fiscal sustainability”, they underlined.

Finally, they stressed that the agro-industrial sector can become a “pillar of recovery” of the Argentine economy and of the “transit” towards a more sustainable, equitable and federal society. “We must build a macroeconomic framework and public policies that promote productive growth, investment, exports and consumption with clear and predictable rules of the game, a return to international markets and a tax structure that promotes production and value added ”, concluded the cereal businessmen.

AEA: “It means a very important and essential step”

For its part, the Argentine Business Association -AEA- expressed “its satisfaction with the agreement reached with the International Monetary Fund. This means a very important and essential step for the economic and social development of the country.”

“In effect, the fulfillment of commitments and access to national and international financing represent decisive factors for the private sector to unleash its full potential in terms of economic growth, job creation and generation of foreign exchange for development,” they stressed.

Claudio Cesario, president of the Association of Banks of Argentina (ABA), assured that “Having reached an understanding on the key points of the future agreement with the IMF and paying the due date this Friday is an important and fundamental step forward to help restore the deterioration of the macroeconomy.”

Claudio Cesario 2.jpg

Claudio Cesario, president of the Association of Banks of Argentina (ABA).

Kindness ABA

“For the growth of the level of activity, it is essential, in addition to the agreement with the organization, to establish a solid and long-term economic plan that allows all sectors greater predictability, at a time when there are numerous challenges to resolve, in terms of exports, power generation, private job creation, among many others,” added the ABA head.

In this sense, he stated that “all the actors of society -public and private- should frankly dialogue to define the clear and orderly roadmap that allows us to develop uninterruptedly”.

Meanwhile, Daniel González, Executive Director of IDEA (Institute for Entrepreneurial Development of Argentina), stated: “From IDEA we celebrate the beginning of the agreement reached with the IMF and we congratulate the National Government for having successfully concluded a long and difficult negotiation. It is a demonstration that Argentina is willing to fulfill its commitments, it is a fundamental step in recreating the confidence necessary to bring investment to levels consistent with the generation of sustainable and quality employment that improves the lives of many Argentines”.

CGERA thanked Minister Martín Guzmán

The General Business Confederation of the Argentine Republic (CGERA), supported this Friday the understanding reached between the National Government and the International Monetary Fund (IMF) by stating that it clears the macroeconomic scenario and generates conditions for the industry to continue recovering.

In this sense, the President of CGERA, Marcelo Fernández, emphasized that “as announced by the Government, the agreement with the IMF does not provide for an adjustment that would affect economic activity and especially in the middle sectors that drive consumption of SME products.

“We thank Minister Martín Guzmán for having highlighted in his presentation that the business sectors collaborate with the agreement by working politically,” added Fernández.

Likewise, the President of CGERA stressed that “it was important that the Government solve this problem inherited from the previous administration to be able to focus on continuing to implement the policies that industry and commerce need to underpin their recovery.”

CGERA represents thousands of SMEs grouped in more than 90 Chambers and Federations throughout the country. Some of the industrial sectors that constitute it are Leather Manufactures, Clothing, Tanneries, SME Exporters, Meat, Electronics, Broadcasters, Opticians, Farm Fatteners, Graphic Ink Manufacturers, Metallurgists, Textile Inputs, Toys, Footwear Industry , Hardware, Artistic and Cultural Producers, Security, Construction, Poultry Processing Companies, Laboratories, Pharmacies, Textiles, SME Auto Parts, Bakery, Railway, air conditioners, naval industry, fireworks, among others.

Entrepreneurs such as José Urtubey, director of Celulosa Argentina; Alejandro Simón, CEO of the Sancor Seguros Group; Marcelo Figueiras, President of Richmond Laboratories; Daniel Herrero, President of Toyota Argentina; Martín Cabrales, Vice President of Cabrales SA; Pablo Peralta, President of the GST Group; Mara Bettiol, President of UART; Juan Carlos Mosquera, President of ADIRA, and Fabián Castillo President, FECOBA.

“We trust that it is a responsible and necessary decision that will allow us to provide a foreseeable horizon and financially direct Argentina, being able to generate the necessary conditions to support the economic and productive activity of our country,” they said in a statement.

These businessmen described the agreement as “extremely positive” since “it is the indispensable beginning to revert the structural stagnation and allow Argentina to recover the socioeconomic development of the country and an intelligent international insertion.”

Later, the national Executive was also supported by the Association of Public and Private Banks of the Argentine Republic (ABAPPRA).

For this entity, the understanding with the IMF “It will make it possible to conclude the process of renegotiating foreign liabilities under realistic and sustainable conditions in order to advance towards a process of economic growth with greater well-being and social inclusion.”

“The closing of the negotiations with the creditors will make it possible to overcome the current economic difficulties and strengthen the local credit market with instruments in pesos that channel Argentine savings to the benefit of work and national production,” they considered.

For the Agroindustrial Council it is a “proper step”

The Argentine Agroindustrial Council (CAA) also showed its support for the Government for the agreement reached with the IMF and assured that the fact represents “an appropriate step to promote growth, production, employment and investment both in agroindustrial activities and in the rest of the economy.

For this new stage “a fundamental requirement to encourage the development process” is the promotion of “policies that promote macroeconomic stability, insertion in international markets and adequate access to financing,” the entity said.

“We believe it is appropriate that the agreement reached with the IMF, which must be debated and approved by the National Congress, allows the implementation of policies that resolve the structural problems that affect the competitiveness and performance of agribusiness chains,” the CAA stated.

In this sense, he highlighted the importance of the draft Agroindustrial Law that will begin to be discussed in February as part of the extraordinary sessions called by the national government this week.

The US Chamber of Commerce assured that it will favor “the business climate”

While for the United States Chamber of Commerce in Argentina (AmCham Argentina) the understanding is “a new scenario” that “will have a positive impact on the business climate”, something that will enable the companies it brings together “accelerate their investment programs and take advantage of the multiple opportunities that Argentina offers”.

“Additionally, we believe that this agreement will allow Argentina to recover its position in the international financial markets”, Held.

Likewise, the commercial institution trusts that “all the political, economic and social actors will accompany the strategic decision of the Government to advance in this understanding”.

Despite this progress, AmCham Argentina assessed that “it is not enough” because development has to be “accompanied by State policies that aim to achieve the social and economic transformation of Argentina, considering the active role of the private sector and the improvement of the situation of vulnerability present in a large part of our society”.

The Argentine Chamber of Energy (CADE) considered the agreement reached with the IMF to be positive

The Argentine Chamber of Energy (CADE) considered the agreement reached with the International Monetary Fund (IMF) to be “positive” and stressed that “it is a necessary condition to strengthen private investment and favor a predictable growth scenario for social development and economy of the country”.

“The agreement with the IMF is important for the country because it establishes achievable and logical guidelines in macroeconomic terms,” ​​said economist Miguel Peirano, CEO of CADE.



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