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Luis Caputo met with the Chancellor of the Exchequer of the U.K.

August 2, 2017

The Minister of Finance, Luis Caputo, met this afternoon with the Chancellor of the Exchequer of the U.K., Philip Hammond. The Chief of Cabinet of the Ministry of Finance, Pablo Quirno; the Secretary of Finance, Santiago Bausili; the Secretary of Financial Services, Leandro Cuccioli; and the President of the Financial Information Unit (UIF, for its acronym in Spanish), Mariano Federici, also attended the meeting.

During said meeting, both officials talked about the intention of British enterprises to participate in the infrastructure investment through the Public-Private Participation (PPP) scheme.

In that sense, Caputo said: “This meeting is taking place in a new Argentina, which is regaining its position at the international scenario and which offers big investment opportunities for the development of its infrastructure”.

Hammond and Caputo talked about the importance of preventive actions against money laundering and financing of terrorism developed by the Financial Information Unit (UIF).

In addition, they mentioned the possibility of having their insurance market regulators cooperating with each other.

The Ministry of Finance’s team explained to the British delegation the efforts done by the Argentine Insurance Authority to update regulatory practices in the insurance sector and highlighted the importance of the information exchange with the U.K.

Before the meeting, both officials attended the working lunch offered by Minister of Foreign Affairs Jorge Faurie at which the Minister of Treasury, Nicolas Dujovne, was also present.

During the afternoon, the officials of the Ministry of Finance participated in a working meeting with British businessmen at Palacio San Martín. There, the Chief of Cabinet, Pablo Quirno, talked about initiatives of Public-Private Participation projects; the Secretary of Finance, Santiago Bausili, talked about the financial program of the country; and the Director of the Argentine Insurance Authority, Juan Pazo and the Vice-director, Guillermo Plate, talked about the investment opportunities offered by the insurance sector.

President Mauricio Macri receiving the British Minister marks a historic moment: it is the first visit to Argentina by a U.K. cabinet member since 1993. The meeting is part of the new bilateral relation evidenced in a joint statement signed by both Governments in September 2016.