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Spain asks Argentina for “stable economic relations framework”

Wednesday, August 8th 2007 - 21:00 UTC
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Spain's Vice president Maria Teresa Fernandez de la Vega Spain's Vice president Maria Teresa Fernandez de la Vega

Spain's Vice president Maria Teresa Fernandez de la Vega called on Argentina for “a stable framework of economic relations, essential to generate confidence” among investors. Virtually the same words presidential candidate Cristina Fernandez de Kirchner faced from Spain's main businessmen during her late July visit to Madrid.

Fernandez de la Vega is currently visiting Argentina and made the comments on leaving Casa Rosada, Government House, where she met with President Nestor Kirchner mid afternoon during 45 minutes. A signal from Argentina "showing willingness to negotiate" the Club of Paris debt "would facilitate the full return of Argentina to international financial markets", added the top Spanish official. Spain is the second most important investor in Argentina behind the US. Earlier in the day during a morning forum organized by the Spanish Chamber of Commerce, Fernandez de la Vega ratified "the good syntony and dialogue" with the Argentine government and highlighted the contribution of Spanish corporations to the local economy. "If Argentina prospers, we all prosper" she said adding that the Argentine economy has "enviable growth rates" with fiscal surpluses unheard of in the country's history. Before arriving in Argentina in an interview with the Buenos Aires media she had underlined that "it's only natural that (Spanish) businessmen should ask for legal certainty. And that their bet in this country is rightly acknowledged". Fernandez de la Vega also talked about inflation and the current energy crisis in Argentina. "It's normal as in all changing situations, particularly when a country develops as fast as is happening with Argentina, specific adjustments can be expected such as inflationary tensions or insufficient energy for the strong growing demand". However Fernandez de la Vega visit occurs a few days after the powerful Spanish Confederation of Business Organizations published a release in the Spanish media calling for a "more stable framework" so as "to continue developing investments in Argentina". The release was supported by the Spanish government, "Spanish corporations have all our support in their claim".

Categories: Politics, Argentina.

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