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Lacunza: “The IDB is an example of the contracyclic role fulfilled by International Organizations”

The Minister of Treasury of the Argentine Republic, Hernán Lacunza, participated today in the 60th anniversary of the Inter-American Development Bank (IDB) in the city of Washington DC.

At the meeting of the IDB Governors, Mr. Minister said: “In a region characterized by instability, the 60 years of the IDB are an example of institutionality for the region. We have to use this institutionality to reduce the persistent poverty in Latin America”.

“For Argentina, particularly, the IDB has been an invaluable support, especially important at a time when private credit – typically procyclical – turned its back on us, fulfilling the countercyclical role of a development bank, and financing social infrastructure to mitigate structural poverty.”

“At the beginning of the century Enrique Iglesias was encouraged to finance the food and health emergency. President Moreno knows how to distinguish a temporary turbulence from the permanent pillars associated with sustained growth: financing for hundreds of km of roads, thousands of homes with drinking water and sewers, hydraulic works to avoid thousands of flooded hectares and flooded homes, “Lacunza said in his speech.

“The IDB also knows that the healthy and rapid overcoming of financial tensions associated with electoral uncertainty will not be dissociated from the financial support capacity of international organizations. The ratification of long-term financial support programs for infrastructure and social programs proves this,” Lacunza concluded, at the Ronald Reagan Building – International Trade Center.