November 5th, 2021


1. Alberto Fernández seeks support from G20 leaders to renegotiate with IMF

President Alberto Fernández arrived in the country this morning after participating in the G20 Summit in Rome and in the United Nations Climate Change Conference (COP26) in Glasgow. On the other hand, the Minister of Economy, Martín Guzmán, and the Secretary of Strategic Affairs, Gustavo Beliz, will remain in Rome to continue with the renegotiation of the debt with the International Monetary Fund (IMF). During his European tour, the President obtained the support of his peers to the requests made to the International Monetary Fund (IMF) to enable low-income and middle-income countries such as Argentina to meet their financial commitments and, at the same time, continue their economic recovery with social inclusion. In addition, he secured the commitment of an investment of US$ 8.4 billion from an Australian company to produce green hydrogen in Río Negro. Among the main bilateral meetings, China and Russia were the ones that left promises of investment projects, although there are also companies such as the Canadian Pan American Silver waiting for provincial approval for a mining project for u$s 1,200 million. In his last speeches at the G20 in Rome and at the climate change summit in Glasgow, the president insisted on creating a resilience fund, reducing the percentages of overcharges, using Special Drawing Rights and extending payment terms to the IMF to facilitate compliance with the goals of the Paris Agreement. In the balance of the tour, the officials emphasize that it was seen that “Argentina is inserted in the world, but with a different vision. It is integrated but not to take on debt”, said Chancellor Santiago Cafiero.

El Economista: Alberto Fernández emprendió el viaje de regreso al país tras las cumbres del G20 y de la COP26
Cronista: Balance de la gira de Alberto Fernández: qué trajo y qué faltó en las reuniones con el G20, el FMI y la cumbre del clima

2. Alberto Fernández at COP26: “It is necessary to apply emission of DEG from the International Monetary Fund to a great pact of environmental solidarity”

This week the United Nations Climate Change Conference (COP26) was held in Glasgow, Scotland. President Alberto Fernández participated together with a delegation integrated by the Minister of Environment, Juan Cabandié, the Minister of Productive Development, Matías Kulfas, and the Minister of Agriculture, Julián Domínguez, among others. During his speech, the President called for an environmental solidarity pact with the IMF funds and presented the national commitments on climate change. In the framework of the summit, the government also announced that the Australian company Fortescue Future Industries will invest USD 8.4 billion in green hydrogen in the Argentine Patagonia. President Fernandez’s agenda in Scotland included bilateral meetings with his peers from other countries such as Costa Rica and Switzerland.

Cronista: COP26: Alberto Fernández reclamó una hoja de ruta para el financiamiento verde con los DEG del FMI

3. Government seek to regulate drug prices

After the publication of the Consumer Price Index data, which indicated that the price of medicines had increased above the general average, the Secretary of Domestic Trade, Roberto Feletti, organized meetings with Luana Volnovich, President of the Social Security Institute for Retired and Pensioners (PAMI), and with the Minister of Health, Carla Vizzotti. The Secretary of Domestic Trade affirmed: “We are going to start reviewing the issue of medicine price increases, there cannot be essential consumption without State regulation”. After these statements, Feletti met with the chambers that bring together the pharmaceutical companies with the aim of reaching an agreement to keep prices fixed between November 1 and January 7.

Ámbito: El gobierno buscar incluir a los medicamentos en el congelamientos de precios 

4. Electricity rates frozen until April 2022

Through Resolution 1029/2021, the Energy Secretariat, headed by Darío Martínez, extended until April 30, 2022 the freezing of electricity tariffs. At the same time, electricity distributors were guaranteed a reference price until the end of the summer, which will be covered with state subsidies. In this way, probable claims of the concessionaires with the intention of transferring eventual cost increases to the tariffs paid by the users are prevented. So far in 2021, according to the communication from the Secretariat of Energy, subsidies for ARS $900 billion have already been allocated, which “made it possible for users to pay less than 30 percent of the real cost of electricity”.

Ámbito: Gobierno extendió congelamiento de tarifas eléctricas hasta abril de 2022

5. Argentina received more than 200 flights with international tourists in the first week of the reopening of flights

Following the relaxation of air transportation and the reopening of the entry of foreigners and tourists into the country as from November 1, 217 flights arrived. This figure exceeds the 24 flights per week of the first week of July, when greater restrictions to the sector were in force. With the 217 international flights registered in the last week, it is possible to estimate between 5 to 8 thousand passengers per day in the first seven days of November, representing a significant reactivation of the sector in only five days. On the other hand, the European Union (EU) recommended its member countries to lift entry restrictions for Argentine citizens and residents of the country, whether or not they have been vaccinated against Covid-19. Certain preventive measures against the coronavirus remain in force, such as PCR tests performed within 72 hours prior to travel, but it will no longer be necessary to be vaccinated with an inoculant approved by the Paul-Ehrlich Institute, the body that decides which vaccines Germany recognizes, namely: Pfizer, Moderna, Johnson & Johnson and AstraZeneca. In the case of Spain, sources from the Spanish Embassy in Argentina informed that the Spanish government updated its regulations and Argentina is now included among the safe countries to travel to.

Minuto1: Argentina recibió más de 200 vuelos con turistas internacionales en la primera semana de reapertura
La Nación: Coronavirus: por qué la Argentina pasó a ser un “país seguro” para la UE y cuáles son las reglas de ingreso en las principales naciones