MercoPress. South Atlantic News Agency

Argentina's Economy Minister meets with Georgieva in Brazil

Georgieva insisted that an eye must be kept on the most vulnerable insisted that an eye must be kept on the most vulnerable

Argentina's Luis 'Toto' Caputo and International Monetary Fund (IMF) Managing Director Kristalina Georgieva met Wednesday in Sao Paulo on the sides of the two-day G20 summit of Economy Ministers. The gathering took place less than a week after the visit to Buenos Aires of the IMF Managing Director Gita Gopinath, with whom Caputo and President Javier Milei discussed a new agreement on the South American country's debt.

“Excellent meeting with the Argentine minister Luis Caputo,” Georgieva wrote on social media as she highlighted “the authorities' sustained efforts to restore stability,” but called for protecting the most vulnerable.

Caputo said after the meeting that the IMF “celebrates and supports the measures and results obtained by this new administration.”

“The teams will continue working on the best strategy to continue supporting the country's efforts,” he added.

Caputo also met with his colleagues Fernando Haddad (Brazil), Carlos Cuerpo, (Spain), Giancarlo Giorgetti (Italy), and Bruno Le Maire (France), in addition to holding talks with OECD Secretary-General Mathias Cormann, and US Secretary of the Treasury, Janet Yellen.

Haddad insisted on a “global tax on the super-rich” to reduce inequalities, while Le Maire congratulated the Argentine official for the progress made as they exchanged ideas on how to support reforms to the international financial architecture. With Giorgetti, Caputo agreed on the importance of “continuing with the fiscal adjustments that are being carried out, protecting the most vulnerable.”

With the European Union's Commissioner in charge of Economic and Financial Affairs Paolo Gentiloni, Caputo discussed “the challenges of the reforms promoted in the country. Also, the common work points were analyzed, among which the challenges involved in promoting the Mercosur-EU agreement and revitalizing the commercial link between both were raised,” according to a statement from the Argentine Ministry.