Fernández meets with Biden amid Argentina’s economic challenges with the IMF

First modification: 03/29/2023 – 21:47

The tour of the South American president through New York and Washington is framed by a clear purpose: to seek the political support of the Biden Administration in the face of the demands of the International Monetary Fund (IMF).

“We hope that they continue to accompany us, as they have done up to now,” Fernández declared at the beginning of his meeting with the US president. And although he did not make direct reference to the IMF, he thanked Biden for having “always” supported his country in international credit organizations.

In addition, Fernández stressed that the economic situation that his country is going through has been complicated by the drought that is plaguing Argentina.

“Argentina is suffering from the worst drought since 1929 in its recent history. This has greatly complicated our economy and we are considering this new reality to credit agencies,” said the president.

The IMF’s demands on the Latin American country range from having sufficient reserves in the Central Bank and reducing the fiscal deficit to controlling the monetary issue. Some that Argentina have not been able to fully comply with.

For his part, Biden described the meeting as a “very good opportunity” to strengthen their economic ties and also cooperation on issues such as “clean energy, technology and security, among others.”

“This meeting is an opportunity to reaffirm that nothing is out of our reach if we work together,” the US president said.

The meeting was the first between the two leaders. Furthermore, a US president has not met directly with a Peronist leader since Nestor Kirchner visited the White House when George W. Bush was in power.

The meeting between Fernández and Guterres

This Wednesday, President Fernández met with the UN Secretary General, António Guterres, and exposed criticism of the architecture of the international financial system. Other issues on the bilateral agenda were also discussed, such as the Environment and the impact that droughts have had on the Argentine economy.

The meeting was also the occasion to ask Guterres to resume talks in New York regarding the sovereignty of the Malvinas.

In parallel to the meetings with the Argentine president, the Minister of Economy and Labor, Sergio Massa, and the Foreign Minister, Santiago Cafiero, have held high-level meetings with the Secretary of State, Antony Blinken; the president of the Inter-American Development Bank (IDB), Ilan Goldfajn. Massa is also expected to meet Treasury Secretary Janet Yellen.

Ted Cruz against Vice President Fernández de Kirchner

On the eve of the meeting, Texas Republican Senator Ted Cruz introduced a bill in Congress seeking sanctions against Argentina’s Vice President Cristina Fernández de Kirchner.

Cruz, also asked President Biden – an Administration of which he has been critical due to his closeness to former President Trump – to investigate Kirchner for “corruption”.

The vice president did not travel to the United States and published a series of tweets in which he questions Cruz. In these he points out that his sanctions are related to the economic resources that the Texan senator receives for his campaign from oil companies.

This will not be an easy meeting for Fernández in the face of a former partner from whom he has distanced himself.

With EFE, AP and local Argentine media.