Investments
Argentina advertises investment
Almost 2000 managers from all over the world come together in Buenos Aires. Argentina urgently needs investments to get out of the recession. Also the Federal Minister for economic Affairs takes part in the Meeting.
An international economic forum, Argentina new investments to revive its economy. About 1900, the leading Manager of nearly a thousand companies from 67 countries will take part from Tuesday to the three days of the “Argentina Business & Investment Forum”. The kick-off was on Monday evening (local time). Federal Economics Minister Sigmar Gabriel is the most prominent foreign politician who speaks on the Forum. The SPD chief will be there also come along with Argentine government officials. Then Gabriel travels to Canada, where he will perform on Thursday, political talks on the free trade agreement Ceta and the conference “Global Progress in 2016”.
Among the representatives of the private sector in Buenos Aires, Joe Kaeser (Siemens), Andrew Liveris (Dow Chemical), Muhtar Kent (Coca-Cola), and Bob Dudley (BP). The conservative government has liberalised since the inauguration of President Mauricio Macri nine months ago, the economy.
High Inflation and recession
Predecessor, Cristina Fernández de Kirchner was set to a stronger regulation. Now about the foreign exchange market has been released. With the solution of the dispute over maturing foreign debt, before an American court, the country regained international credit rating. Argentina is, however, more in a recession. In the current year, information about 100,000 Jobs were lost to government. The inflation rate rose at the same time up to 43 percent, just a month ago you could be a few percentage points reduced.
The government in Buenos Aires has targeted for the year 2016 already in private investment over 33 billion dollars (29 billion euros), which is included, but only slowly in the economy. The Economist Daniel Sica estimates that annual private investment in Argentina needs to $ 110 billion (98 billion Euro). Therefore, the government relies on this as a “Mini-Davos” designated Investment Meeting. “It is as if a lot of Badelustiger are a Swimming-Pool and see who jumps first,” said the chief of a bilateral chamber of Commerce, the German press Agency about the prevailing climate among the investors before the start of the forum.
ul/hb (dpa)