October 15th, 2021
1. Roberto Felleti took office as the new Secretary of Domestic Trade
On Wednesday, by means of Decree 703/2021, the appointment of Roberto Feletti as new Secretary of Domestic Trade was made official, replacing Paula Español who, from now on, will be part of the Ministry of the Interior. Feletti, who until last week was the administrative secretary of the Buenos Aires Province Senate, met on Wednesday with businessmen of the mass consumption products sector, where he expressed his intention to freeze the prices of 1,245 items for 90 days. In this sense, she asked the companies to inform the price they had until October 1. Among the products covered are fresh and frozen food, hygiene and cleaning products.
Cronista: Más cambios en el Gobierno: desplazan a Paula Español y ponen a Roberto Feletti en su lugar
Perfil: Feletti se reunió con empresarios y pidió congelar por 90 días los precios de 900 productos
2. September inflation was 3.5%.
On Thursday, the National Institute of Statistics and Census (INDEC) released the Consumer Price Index (CPI) for September, which registered an increase of 3.5%. So far in 2021, it accumulates 37% and 52.5% with respect to the same month last year. The items that experienced the greatest increases were Clothing and footwear (6.0%); Alcoholic beverages and tobacco (5.9%) -where the increase in cigarettes had a major impact-; and, in third place, Health (4.3%), mainly influenced by the increase in Prepaid Expenses. In addition, the increase in the Food and non-alcoholic beverages division (2.9%) had the greatest impact in all regions. Finally, the two divisions with the lowest increase in September were Miscellaneous goods and services (2.2%) and Housing, water, electricity, gas and other fuels (1.9%).
3. The president spoke at the IDEA colloquium
President Alberto Fernández took part, this Friday at noon, in the 57th Colloquium of the Institute for Business Development of Argentina (IDEA), an event that brings together businessmen from all over the country, and which took place during three days in Costa Salguero, City of Buenos Aires. During his speech, the president reviewed the current post-pandemic situation that the country is going through and called for “deepening the agreements and minimizing the differences” and “joining forces in the construction of a new society.” Likewise, he assured that the only “cure” to solve the unemployment issue is private investment, through which genuine employment is generated. Besides, he declared that social plans are a temporary palliative. Finally, the president mentioned the USD 44 billion debt contracted with the International Monetary Fund (IMF) and pointed against the previous administration. Also participated in the colloquium Pope Francis; the Mayor of the City of Buenos Aires, Horacio Rodríguez Larreta; the Minister of Productive Development, Matías Kulfas; and the head of the economy ministry, Martín Guzmán, who denied a future devaluation jump of the currency.
4. The Minister of Economy, Martín Guzmán, met with the Director of the IMF, Kristalina Georgieva
The Minister of Economy, Martín Guzmán, arrived on Monday in Washington to participate in the G20 Finance Ministers meeting and the Annual Meeting of the International Monetary Fund (IMF) and the World Bank. There, together with the President of the Central Bank, Miguel Pesce, and their respective technical teams, they held a working meeting with IMF staff to discuss technical aspects of the negotiation for the restructuring of Argentina’s USD 44 billion debt with the international organization. In addition, on Tuesday, Guzmán met with David Lipton, advisor to the US Treasury, and then with the director of the IMF, Kristalina Georgieva. In this sense, the minister described his meeting with Georgieva as “valuable”, and added: “we hope that her leadership will continue to take steps to change the IMF’s ethics, for one that favors the sustainable development of countries”. At the G20 meeting, the official raised the need to “improve the international financial architecture”. Likewise, the summit issued a communiqué requesting that the IMF review its policy on surcharges, in line with Argentina’s demand.
Ámbito Financiero: Martín Guzmán al G20: “Necesitamos un mejor sistema internacional para resolver las crisis de deudas”
5. The president presented the project for the promotion of sustainable mobility
Earlier this week, President Alberto Fernández, accompanied by the Minister of Productive Development, Matías Kulfas, visited the Toyota plant and announced the bill for the Promotion of Sustainable Mobility. The main objective of the initiative is to promote the evolution of electromobility with 100% electric vehicles, instead of conventional gasoline-powered vehicles, whose sale will be prohibited as from 2041. The text also contemplates the creation of the National Agency for Sustainable Mobility, which will be in charge of regulating the rules that will govern the commercialization of vehicles, both domestic and imported. The project also offers incentives to the sector to install productive sustainable mobility projects. Finally, this initiative is expected to generate 12,500 jobs for USD 5 billion.