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The Minister of Economy of Argentina will meet with Kristalina Georgieva and Janet Yellen

Ignacio Teson•Wednesday, February 28, 2024•2 min read

Minister of Economy Luis Caputo will participate in the G20 Ministers Meeting, which is taking place until Thursday the 29th, with the aim of defining an economic course.

Minister of Economy Luis Caputo traveled to the city of São Paulo to participate in the G20 Ministers Meeting scheduled for February 28th and 29th. During this event, the head of the Ministry of Economy will meet with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, and the United States Treasury Secretary, Janet Yellen, among other international figures.

Argentina’s assets experienced a sharp decline in recent days due to heightened selling pressure amid a complex political tension. This tension stemmed from verbal exchanges between the central government and some provincial governors over fund disbursements from the national treasury.

The situation escalated to the judiciary, as publicly stated by the governors of the Patagonian province of Chubut and the strategic Province of Buenos Aires. Meanwhile, a federal judge ruled in favor of Chubut and ordered the suspension of fund cuts, while the government prepares an appeal. Local media suggest that the case may be elevated directly to the Argentine Supreme Court.

During his working sessions at the G20, Caputo will take part in panel discussions on “The Role of Economic Policies in Addressing Inequalities: National Experiences and International Cooperation” and “Global Perspectives on Growth, Employment, Inflation, and Financial Stability.”

Additionally, Caputo will hold bilateral meetings with the Finance Minister of Germany, Christian Lindner; with the Secretary-General of the OECD, Mathias Cormann; and with the United States Treasury Secretary, Janet Yellen.

The world’s major economies will gather in São Paulo to review global economic developments at a time of slowing growth, rising concerns about record debt burdens, and worries that inflation may still be uncontrollable, which are keeping interest rates high.

The International Monetary Fund stated last month that the chances of a “soft landing” in which inflation falls without triggering a painful global recession had increased, but it warned that global growth and world trade remained below historical averages.

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ABOUT THE AUTHOR See More
Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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