Washington’s new ambassador in Buenos Aires says major US and Western firms are on the verge of announcing “unprecedented” capital investments in Argentina.
In a post on social media, Peter Lamelas said that leading companies are “on the verge” of announcing major backing for Argentina and President Javier Milei’s under-fire government, which faces crucial midterm elections at the end of the month.
“US companies and the western world are on the verge of investing an unprecedented amount of capital in the sovereign Republic of Argentina which will Make Argentina Great Again. I will work day and night on making this a reality to benefit both Argentina and the USA and all of our people. God bless Argentina & God bless America! (sic)," wrote Lamelas in a post on X.
The statement, issued Sunday, comes amid ongoing talking between the US and Argentina governments over new financial assistance.
Argentina’s Economy Minister Luis Caputo travelled to Washington over the weekend for talks with US Treasury Secretary Scott Bessent and Kristalina Georgieva, the managing director of the International Monetary Fund.
Caputo is accompanied in Washington by Central Bank Governor Santiago Bausili, Deputy Economy Minister José Luis Daza and Finance Secretary Pablo Quirno.
Lamelas’ post also referenced his recent meeting with the US-Argentina Business Council (USABC), during which industry leaders discussed the political and economic situation, as well as the opportunities to invest in strategic sectors.
After the meeting, the USABC stressed that its members “had the chance to speak directly with Ambassador Lamelas, share information about his operations in Argentina and approach the main priorities in the bilateral relationship.”
The entity said that the diplomat “would play an essential role in the strengthening of economic and business links between both countries from the US Embassy in Argentina.”
“We thank ambassador Lamelas for sharing with us his priorities and we hope to see the positive impact of his leadership in Argentina. We reaffirm our commitment to keep a constructive dialogue with the ambassador with a view to the common goals of support to the business community,” the organisation added.
Lamelas’ statement echoes recent remarks by Bessent, who said recently that he had been “in touch with numerous American companies which plan to make significant direct foreign investments in various sectors in case of a favourable electoral result” – a reference to the October 26 elections, which will serve as something of a referendum on President Milei’s first two years in office.
President Milei is due to be hosted by US President Donald Trump at the White House on October 14, less than two weeks before the vote.
The agenda includes financial talks, regional security and Trump’s trade tariffs. According to Casa Rosada, a photo-op and a public nod during that meeting would reinforce the narrative of the “window for investment” extolled by Lamelas on X.
The Milei government’s attempts to win over large investors has stalled to date. Despite the passage of a sweeping major investment incentive scheme, known as RIGI, multinational firms have, for the most part, remained hesitant.
– TIMES/PERFIL
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