MercoPress. South Atlantic News Agency

US embassy support for Argentina's move to orthodox economics

Kevin Sullivan made the statements at a speech in a Buenos Aires university

The US embassy's business adviser in Buenos Aires, Kevin Sullivan, has welcomed negotiations between the Argentine government and Spanish corporation Repsol over the expropriation of YPF, as well as further talks with the Paris Club over the payment of outstanding debt commitments.

 “We are very encouraged by some decisions that the government has been taking with respect to ending controversies they have had both with private investors and the state's financial responsibilities,” the diplomat maintained in a speech at San Andrés University.

“We believe that solving these controversies will help in several ways. First and most importantly, trying to raise investor confidence, both nationally and internationally, so that they support growth and development in the country.

”That is the key, for us to take the most controversial and problematic issues off the agenda to leave more space for the collaboration we want to make happen,“ Sullivan added.

The US embassy representative also talked about a warning made by the US Department of State to Santa Fe governor Antonio Bonfatti, concerning the growing narcotics trade in the region.

”For us it is crucial to keep working together not just with the national government, as we have been doing, but also with those responsible for the provinces in order to see what strategies they can build to confront the challenge, and if they have need or desire training, as we have been doing in certain provinces with the FBI, and in that way we are trying to cooperate with institutions,” he declared.