Finance Minister Alfonso Prat Gay joined Macri in the conference. “We have hope and wait for the other part to be committed as well. We have agreed on an offer that we will be making next week. We are prepared to make it (the agreement) in the fastest and fairer ways possible.”

Friday, January 22, 2016

Macri confirms IMF revision, says 'no concrete results' yet in 'vulture' talks

President Mauricio Macri announced his government has agreed to allow the International Monetary Fund (IMF) to conduct annual revisions on the country’s economy. In his last day in Davos where he attended the World Economic Forum, the head of state confirmed no progress has been yet reached in current talks with so called “vulture” funds.

Macri held a press conference today and referred to media versions on the legal dispute with hedge funds suing Argentina over its defaulted bonds more than a decade ago.

“What I have said is that till now there has been no concrete results and that we hoped to have things on track at this point; but let’s wait till the February 1 meeting and there we will have a more concrete evaluation,” the president said.

“We are prepared to set an agreement and work on that, analyze the conditions. There is a meeting scheduled for February 1. I insist we have to find the way in which the agreement is balanced both ways,” he said pointing out his administration aims at a deal that benefits the country and the “vulture” funds.

Finance Minister Alfonso Prat Gay joined Macri in the conference. “We have hope and wait for the other part to be committed as well. We have agreed on an offer that we will be making next week. We are prepared to make it (the agreement) in the fastest and fairer ways possible.”

President Macri considered Argentina’s attendance to the World Economic Forum has led to an “improvement in relations” with the world, something he said “will allow to have better investments, education and employment.”

“This that the United States has withdrawn its negative vote (against Argentina) at the World Bank and the Inter-American Development Bank is incredible because it allows to finance projects to grow and have a flow of investments”, he said as he considered “ideological differences” should not be an “obstacle” in such matters.

“I have the responsibility as President to get jobs for Argentineans.”