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Caputo met with the President of the IDB to consolidate the strategic alliance with Argentina

The meeting constituted the precursor of the execution of the agreement for the Program to Develop and Strengthen Provincial Management taking place tomorrow together with Minister Frigerio and five Governors.

February 21, 2017

The Minister of Finance, Luis Caputo, met today with the President of the Inter-American Development Bank (IDB), Luis Alberto Moreno, at the headquarters of the organization in Washington. As governor for Argentina before the IDB, Caputo remarked together with Moreno the main items on the common agenda and said: “This meeting enabled to strengthen the strategic alliance between the IDB and Argentina”.

Likewise, both officials talked about the next Inter-American Forum on Microenterprise (FOROMIC), organized by the Multilateral Investment Fund (MIF) of the IDB Group that will take place in Argentina this year. It is the most important annual event related to microfinance and enterprises of the region. In addition, Argentina is getting ready to host the annual Meeting of the Boards of Governors of the IDB and the IIC in 2018.

After the meeting, Caputo highlighted the importance of the Program to Strengthen Provincial Management in order to achieve the financial stability of the Provinces, promote fiscal responsibility, and develop infrastructure works.

“In this opportunity, we are working with the IDB to achieve better fiscal responsibility, financial stability, and to better distribute fiscal resources among Provinces”, the Finance Minister said, and he added: “The IDB has a strong commitment with productive investment and infrastructure development, which is one of the main pillars of Macri’s Administration for economic growth and employment creation”.

The Finance Minister was accompanied during the meeting with Moreno by the Chief of Cabinet of the Ministry, Pablo Quirno, the Undersecretary of International Financial Relations, Félix Martín Soto, and the Argentine Representative before the International Organization, Raúl Novoa. After that, they had lunch with the President of the IDB and the rest of the Governors of the Bank.

In addition, as responsible for the bilateral relations with this development bank, the Finance Minister will meet this afternoon with the Vice-president of countries of the IDB, Alexandre Meira da Rosa, with the Vice-president of sectors, Santiago Levy, and with the Vice-president of the IDB, Julie Katzman. Caputo will also meet with the General Manager of Inter-American Investment Corporation (IIC), James Scriven, and later he will meet with Argentine experts of the institution.

Caputo is in Washington to develop a working agenda that includes the execution of an agreement for the Program to Develop and Strengthen Provincial Management together with the Minister of Internal Affairs, Public Works and Housing, Rogelio Frigerio, the Secretary of Provinces, Alejandro Caldarelli, and the Governors of Corrientes, Mendoza, Misiones, Neuquen, and Salta. It is a loan for 120 million dollars, which had been approved by the IDB in December 2016, to improve the administration of income, expenditure, and public investment, and to execute investment projects in strategic sectors. The Argentine Ambassador, Martín Lousteau, will also be present.