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Montevideo, September 18th 2018 - 23:29 UTC

US Embassy praises Argentina: says 'investment climate has started to change'

Monday, June 9th 2014 - 06:10 UTC
Full article 20 comments
“People from the private sector tell me that they are receiving more and more phone calls”, said Kevin Sullivan “People from the private sector tell me that they are receiving more and more phone calls”, said Kevin Sullivan
Axel Kicillof said he sees “many optimistic signals for the second quarter and even next year” for an ending to economic recession Axel Kicillof said he sees “many optimistic signals for the second quarter and even next year” for an ending to economic recession

The United States Chargé d'Affaires at the Embassy In Buenos Aires Kevin Sullivan, who is in charge of the embassy on an interim basis, praised Argentina’s agreement with Paris Club, ICSID and YPF-Repsol deal, saying “the situation is changing, in a good way” and pointing out a change in investment climate.

 Sullivan said that there is interest about Argentina in the US, in the country’s natural and human resources. “Investment climate has started to change,” he said interviewed by Perfil. “People from the private sector tell me that they are receiving more and more phone calls. The situation seems to be changing, in a good way.”

“Even though we are going through a difficult time, some things make me optimistic,” he said and mentioned the agreement reached by Argentina in its negotiations with the World Bank's International Centre for Settlement of Investment Disputes (ICSID), the YPF-Repsol deal and the recent Paris Club agreement.

The diplomat recognized the existence of adverse statistics regarding Argentina’s economy but he stressed the importance to focus on the medium term.“In the US we have also known difficult economic cycles in the past years and they are usually temporal. The most important thing is to work towards a greater, more inclusive, long term growth,” Sullivan said.

Asked about Argentina’s dispute with the so called Vulture Funds, the US official said the White House has always stressed the importance of “Argentina solving this issue and normalizing its relations with all creditors”.

“Everybody is expecting the Court’s rule in the US,” Sullivan said. However, the diplomat said a negotiation will probably be needed to solve the dispute, regardless the Court’s rule.

Sullivan also referred to the agreement struck between YPF and Chevron to exploit the Vaca Muerta shale oil and gas deposit, recently visited by United States Deputy Secretary of Energy Daniel Poneman. “There is a huge opportunity to develop [the deposit] in a sustainable transparent manner, so that it benefits all Argentines,” he said.

In the same line of thinking Argentina's Economy Minister Axel Kicillof said he sees “many optimistic signals for the second quarter and even next year” for an ending to economic recession.

According to the Kirchnerite official, “many elements” signal economic recovery, including price deceleration and income increases due to wage negotiations and the federal government’s welfare benefits.

In an interview with Página 12, Kicillof admitted the impact in the real economy of January’s abrupt devaluation, which he described as a ‘destabilizing attempts’, and pointed out that “all catastrophic forecasts that said a bomb was going to explode in March were overcome”.

Kicillof said that now, that the monetary and exchange market are stable, with decelerating prices, “we start to see the impact of a increase in real incomes, as a result of wage negotiations”.

Top Comments

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  • Anglotino

    Amazing that the embrace of many orthodox economic policies is now bearing fruit.

    So much time could have been saved if this had happened earlier. Clever it usually takes an economic crisis, whether actual or potential, to harden a government's resolve to take unpopular though needed reforms and changes.

    Jun 09th, 2014 - 07:24 am 0
  • Think

    TWIMC

    This lad Kicillof is hot, hot , hoooot...

    Amazing how this lad, Kicillof, embracing popular heterodox economic policies has managed during his few months in office to stop the Financial World's Vultures & Bloodsuckers speculative attack against my beloved Argieland by...:
    a) Getting us out of the “ICSID” quagmire…
    b) Getting us out of the “INDEC” quagmire…
    c) Getting us out of the “PARIS CLUB” quagmire…
    d) Getting us out of the “YPF-REPSOL” quagmire…

    All of the above whilst applying popular inclusive heterodox economic policies in Argieland like…:
    1) Almost stopping food inflation through his “Precios Cuidados” program...
    2) Including more than 600,000 older Argentinean into the National Pension System…
    3) Raising the ”Per Child Allowance” with nearly 50%...
    4) Keeping unemployment down…

    Today, even the Mighty USof A bows for this man…

    PS…: (for Anglolatino and other fairies out there)
    Did I mention that he’s much cuter in person than in pictures?
    ;-)))

    Jun 09th, 2014 - 08:17 am 0
  • Conqueror

    @2 Oh dear. The equivalent of “heterodox” is “dissident”. Thus “popular inclusive heterodox economic policies” becomes meaningless gobbledegook. What are those “policies”? Nothing that's going to cost him anything! How come you don't reside in your “Beloved Argentina”? Something to do with typical argie cowardice and selfishness?

    How would you “Think” that “the Mighty USof A bows for this man? If it's bent at the waist it's because it's laughing itself sick.

    ”Did I mention that he’s much cuter in person than in pictures?“ Surely you need some ”perspective“. Very difficult to get perspective whilst down on your knees gobbling his cock and licking his balls. Or do you get a better ”perspective” on your knees looking between your legs as he thrusts home? Is it better than that plastic thing CFK used to shaft you?

    Who's a fairy? Everybody like you!

    Jun 09th, 2014 - 10:58 am 0
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