December 7, 2023

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Sergio Massa in China: an adventure with progress, but it does not resolve doubts about the critical situation of the economy

Sergio Massa in China: an adventure with progress, but it does not resolve doubts about the critical situation of the economy

Beijing.- Sergio Massa He opened the embassy freezer. It was Friday at 11:30 p.m., and he had just finished a day of seven grueling meetings with Chinese Communist Party officials. He then announced the controversial extension Exchange. Despite his fatigue, he threw some tenderloins and strips on the grill. He roasted the meat. He served soda and wine. Some of the entourage closed their eyes; Energy Secretary, Flavia Ryan, and Minister of Transport, Diego Giuliano, They could not bear it and ran away.

“It looks like this grill hasn’t been used since the time of (Diego) Cuellar,” they accused Ambassador to China Sabino Vacca Narvaja, who stuck by the economy minister all week. Maximum Kirchner. They took a vow not to talk about politics that night. They left it and told the return flight. Before climbing, on Saturday afternoon, Massa congratulated his team for a job well done.

The minister came to buy dollars. He took the deals, but not immediately, and in an environment of scarcity, with no luck, he has been asking for political order and clear direction for his own coalition. Synthesis is a separate candidate. His main concern? Several Peronist candidates came in third and Javier Mili first in PASO’s Monday after Sunday dollar. For this reason, governors may begin insisting on the ruling party’s electoral concession with a decision-making schedule. From China, he knew he had only taken a fraction of what he needed Alberto Fernandez Beyond funding infrastructure projects for development, smooth your government. Massa spoke as a prime minister or presidential candidate in China and was hosted by the government.

Sergio Massa and Maximo Kirchner with Dilma Rousseff in ShanghaiPress

The second episode of the film will start watching tomorrow while focusing on the negotiations with the film. International Monetary Fund (IMF) and foreclosure of provisions or Pre-loading, according to the words of the creature. People close to the minister say he will not sign the deal if the fund does not allow the dollar to intervene. Everything should be resolved in the next ten days, i.e. by June 12. They say the work is going on in the “last mile”. He Board The IMF should have already held a preliminary meeting. Employee Status Agreement. Delays may occur due to people in the organization.

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Many of the investment projects he championed have freed up money for coalition districts. According to official sources, Masa has signed agreements to enter the country by July 15 for energy investments worth USD 920 million. An amendment was requested to provide a new division for the Santa Cruz Dams. Christina Kirchner: It will be USD 524 million. US$70 million will be added to a refinery in Laferrere, led by AySA in Jagüel. Malena Kalmarini (Minister’s Wife). Axel Kisillof The first tranche of AMBA1 (US$330 million) will be disbursed. “Today is a good day because we are moving forward with remittances that will free up our reserves in the short term,” he said, then talked about long-term growth, an idea that kept popping up.

That second afternoon, Dilma Rousseff, president of the new BRICS Development Bank, hosted the first meeting of governors. After Fernández’s visit, Lula da Silva confirmed that aid to Argentina was “not possible”. That punishment went down very badly with entourage in China. Rather than Lula, the president is the target. Massa Rousseff brought in a financial instrument Temporary, but the former Brazilian president told him it would be better if he chose to join the bank in August. Presentation will be made by Brazil. At a meeting in Putang’s financial district, Rousseff pulled Maximo Kirchner aside and asked for his mother, according to official sources. No time to talk; The President’s plane was about to depart from Shanghai to Beijing.

In this city, before the merchants, It announced that foreign trade and investment could be done in yuan. Such a decision would help avoid the use of dollars, but would also push China’s geopolitical decision: to internationalize its currency within the framework of its trade and technology war with the United States.

Sergio Massa during his visit to ChinaMinistry of Economy

While he was in China, Massa didn’t stop following the dollar day-to-day. He celebrated the relative calm of the blue and the eventual end of the soybean dollar 3.0. For now, there won’t be a fourth edition, although everyone is discounting that it will come at some point. They are considering an incentive for wheat, although they would not confirm whether it would be another form of exchange.

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At Eximbank, that day, progress was made on three projects: terms and conditions were signed for Caucharí financing in Jujuy (US$240 million), a project on the Sarmiento railroad and Parque Arauco (wind energy solar) in La Rioja. “Even if you spoil us, we send you money,” they say Cecilia Morey had told him from this city Gerardo Morales.

Qiu Xiaoqi, the Chinese government’s special representative for Latin American affairs, is one of them. Claims for charges shedding Argentina is linked to technology due to the country’s neutrality over China Also due to the need to re-implement the double taxation agreement signed by Mauricio Macri in 2018.

The Complaints about 5G appeared especially in meetings with trade representatives. Meanwhile, sources in the tech industry expressed concern that the specifications are still unknown. They believe there is a lobby “with first and last name (Huawei)” to shape a tender excluding them. They say, “The devil’s tail can always appear.” Your competition is Nokia and Ericsson, but America has been lobbying globally to get the Chinese company out of the game. He has already kicked Great Britain, Australia, Canada and Japan out of the fray over “security” issues. Huawei is asking for nothing to change, as the law currently governing Argentina says: “neutrality”.

A signal of hives forming for the country Joe Biden It was the dinner Maximo Kirchner was invited to with Huawei. “I highlight the collaborative nature of the relationship where helping is done without any pressure”Fundan University deputy said before watching Telecommunication. La Compora’s leader avoided the media. He preferred to communicate only through his spokespersons. His presence despite his agenda, to cement an alliance with Massa and to justify his parents against Nidhi, is an agreement to fulfill the minister.

A meeting with Yi Gang, governor of the People’s Bank of China, was attended by Massa and Bess.Ministry of Economy – Minitserio

Thursday morning, a possible result Exchange. It wasn’t Massa or his surgical communications team. Short circuits. It finally signed an agreement with the People’s Bank of China (PBoC). Renew for three years Exchange It’s with that country — it expires in August — and Expanded “freely available” funds to US$ 5 billion Central Bank of India (BCRA) President Miguel Pesce was also present.

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The Controversy over whether or not these yuan are convertible (they can be used to buy dollars) It was immediate. Masa confirmed that they were. Opposition, no. The agreement, as stated in the BCRA, is confidential.

On the same day, the president of the Palacio de Hacienda started Announcements of Chinese investments, 100% financing, US$3052 million Opening markets for four more agricultural products, within the framework of “La Ruta y seda” (AMBA1, Belgrano Cargas II, Ferrocarril Roca, Caucharí and El Jagüel), which will add US$700 million in exports. Only the first payments will start coming as the works progress. At the National Development and Reform Commission (NDRC), Massa signed China’s key geopolitical initiative, the Belt and Road Cooperation Initiative, which has been described as “historic” by the country’s diplomatic sources.

“Now, the government must commit”, they said here near Massa. A clear structure and consensus on certain ideas is needed. Without that, he believes, uncertainty will reign and it will be like flipping a coin over the last six months. Despite what advisers say, the minister’s hope that intervention in the fiscal dollar will lower inflation in May is no longer within reach. Massa has already warned that he will not stop interfering. He knows that finance will be hard to resist default of Argentina.

“Like a marriage where everyone cheats, but the guys have to stay together until they get jobs and leave home,” they mapped out.

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