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Praise for Argentina's economic reforms from US, China and Europe at G20

Monday, February 29th 2016 - 07:28 UTC
Full article 12 comments
 US Treasury Secretary Lew welcomed Argentina’s “continued efforts” to solve the litigation with the holdout and hoped “all creditors can resolve their differences” US Treasury Secretary Lew welcomed Argentina’s “continued efforts” to solve the litigation with the holdout and hoped “all creditors can resolve their differences”

Argentina received support for its economic reforms from the United States, China and Europe during the Finance ministers meeting held in Shanghai over the weekend in anticipation of the G20 heads of state and government summit next June, according to a release from the Argentine Finance ministry.

 Support seems crucial since it comes only hours before the key hearing on Tuesday with US District Judge Thomas Griesa on the ongoing negotiations of Argentina with the hedge funds and holdouts.

Although no deal has yet been reached with the leading creditors, but progress has been made, a court-appointed mediator said.

Attending the G20 summit in Shanghai, Finance Minister Alfonso Prat-Gay met with his counterparts from the United States, China, Germany, Italy, Spain and the European Union, who backed Argentina’s attempt to reach a deal with the holdouts as well as the country’s economic policy.

US Treasury Secretary Jack Lew welcomed Argentina’s “continued efforts” to solve the litigation with the holdout funds and said he hoped “all creditors can resolve their differences” and reach an agreement with Argentina, a spokesperson from the US Treasury Department said.

“Secretary Lew and Minister Prat-Gay also discussed economic policy reforms that the Argentine government is taking to address the country’s economic imbalances. Secretary Lew commended Minister Prat-Gay’s focus for taking the necessary steps to move Argentina toward stronger and sustainable economic growth,” the spokesperson said.

Prat-Gay had also received support from Lew two weeks ago, when he praised Argentina’s “good faith efforts” to solve the debt litigation in a phone conversation.

In Shanghai the Argentine minister met with China's central bank president, Zhou Xiaochuan, and later with his German peer, Wolfgang Schuble, who openly supported the president Macri administration's reforms so far, and the decision to reach an agreement with the holdouts.

Spain's Economy and competitiveness minister Luis de Guindos underlined the significance of the meeting held with Prat-Gay expressing support for negotiations with the holdouts in New York.

Finally Prat-Gay held a meeting with Jose Angel Gurría, head of OECD, Organization for Economic Cooperation and Development, who also praised Argentina's new stance and invited Prat-Gay to a June ministerial forum of the organization, since Argentina aspires to become a member.

Top Comments

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  • Think

    Thanks for the info, MacriPress...

    Feb 29th, 2016 - 09:00 am 0
  • The Voice

    @1 Stink.

    Welcome to a new world where…

    Countries pay their legitimate debts
    Peoples taxes arent frittered on feckless idle so called poor
    People have to work
    Taxes arent appropriated by bent politicians
    Investigating consels arent suicided by assasins
    The public arent subjected to crazy rantings by a screeching hag.
    The country isnt constantly trying to steal peoples homes and land

    Its a new world Stink, somewhat better than the old one but one the politically blind and workshy will never appreciate.

    Feb 29th, 2016 - 10:38 am 0
  • CapiTrollism_is_back!!


    Too bad the other countries don't follow Argentina's example. They will continue to
    rip other nations off with interest rate schemes and banking fraud
    continue to fritter money on wars of conquest, bail-outs to the wealthy
    continue to try using slave foreign labor at home and abroad
    taxes appropriated by bent politicians
    investigative councils are shut down before they can start investigating (US subprime and banking, Libor, British Empire crimes, EU corruption, Australian war inquiries)
    the public aren't subjected to crazy rantings by a screeching failed billionaire with fake hair, or two Oxford simpletons who have fallen out of grace with each other
    the countries aren't trying to steal land (Antarctica), or other people's homes (literally)

    It's not a new world for you I guess. Loser the lot of you northerners... As usual: do as we say, not as we do.

    Feb 29th, 2016 - 10:56 am 0
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