Saturday, April 20, 2024

ECONOMY | 04-02-2022 23:01

Economy Minister Martín Guzmán seeks IMF support in Russia

Argentina seeks Russian support for inclusion in the distribution of the special drawing rights of developed countries at IMF.

Economy Minister Martín Guzmán has met up with Russian businessmen and investors, negotiating their support for an increase in the International Monetary Fund’s allocation of funds to Argentina.

The Argentine government wants the IMF to include their country in the distribution of the Resilience and Sustainability Trust fund, a mechanism whereby developed countries cede some of their special drawing rights in favour of poor and middle-income nations, including Argentina.

If the IMF accepts that claim, Argentina could thus receive additional funds to boost Central Bank reserves.
To clinch that support, Guzmán met with his Russian counterpart, Anton Siluanov, for a dialogue about the bilateral relationship and the multilateral agenda in the G-20, asking for Russian support for Argentine access to those funds. The meeting followed that between Presidents Alberto Fernández and Vladimir Putin.

The Argentine minister, who will not be accompanying the official delegation to China, also met with businessmen and investors, to whom he presented Argentina’s economic perspectives in the short, medium and long term.
Those present highlighted the country’s growth after the pandemic, expressing their interest in advancing in specific projects in the energy, industrial, financial and technological sectors.

Guzmán met Russian businessmen from those four sectors who praised Argentina’s investment potential and expressed their interest in increasing bilateral trade, according to an official communiqué from the Economy Ministry. 



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