Thread by @ASCOA

We are LIVE with #CouncilARG!

Join us as we hear from Argentine officials, multilateral and finance executives, and more.

twitter.com/i/broadcasts/1…

On the #CouncilARG agenda today: after @s_segal and Jorge Luis Di Fiori of @CACteinforma open, we'll hear from Buenos Aires Mayor @horaciorlarreta.

Next, three Alberto Fernández's cabinet members will present: @SantiCafiero, @felipe_sola, and @KulfasM. as-coa.org/events/2020-la…

@s_segal @CACteinforma @horaciorlarreta @SantiCafiero @felipe_sola @KulfasM Following, we'll hear from Argentina's Central Bank president, and then after a short break, Argentine Ambassador to the U.S. @JorArguello.

Next, @JamesPScriven + Joyce Chang of JP Morgan, will talk w/@s_segal.

#CouncilARG will close w/remarks from Minister @ginesggarcia.

There are many lessons learned during COVID-19 that we'll be studying for years. But one that is apparent is the importance of integration, that countries are connected and not isolated from each other.

— AS/COA President and CEO Susan Segal, opening #CouncilARG @s_segal

Who wants to move to Buenos Aires?

With telework, people can choose to live in a different place than where their job is based, says Mayor @horaciorlarreta, who's looking to promote the city as a spot for "permanent tourists" and to build up a "visiting economy."

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@SantiCafiero lays out the swathe of initiatives the Fernández government is taking to respond to the pandemic, everything from covering worker salaries to senior health care coverage. He notes that public spending increased by 5.25% of GDP during the pandemic.

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Foreign Minister @felipe_sola lays out a vision Argentina's post-pandemic economic recovery, including increased North American FDI and exports, especially from the technology sector. He also mentions building a permanent dialogue w/Washington based on respect. #CouncilARG

Argentina needs a new social and productive consensus to move forward, says Minister @KulfasM. Argentina has huge strengths: natural resources, talent, skilled workforce, etc. We need to build a consensus that’s sustainable not just for 1–2 years, but for 5, 10, 15.

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Many talk about how Argentina needs FDI—which is welcome investment that helps technological development and innovation, etc.

But the bigger challenge is to be able to channel investment, credit, and internal savings.

— Miguel Ángel Pesce, President @BancoCentral_AR #CouncilARG

And now #CouncilARG is taking a short ☕️ break.

We'll be back in a few minutes with @JamesPScriven of @BIDInvest and Joyce Chang of J.P. Morgan, who'll talk with Susan Segal about how to plan for a sustainable economic recovery.

Don't miss it! as-coa.org/councilarg

But first! Remarks from @ARGinUSA Ambassador @JorArguello.

Watch #CouncilARG LIVE: as-coa.org/councilarg

Finance Minister Martín Guzmán and Central Bank President Miguel Ángel Pesce just signed a letter of intention for a new IMF program as the Fernández government looks to repay $44 billion. perfil.com/noticias/econo…

@JorArguello notes 3 points in that letter …

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1. Recognize constructive dialogue and good working relationship with IMF authorities
2. Need to not repeat past errors
3. Need to meet social demands in the context of the pandemic

"There’s no time to rest—we have a lot of work ahead of us." —Amb. @JorArguello in #CouncilARG

In a panel on economic recovery, @JamesPScriven says Latin America's financial sector is in a “very, very strong situation.” and that @BIDInvest has investments in 100 banks across the region, which he says are "very well protected and very liquid."

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The only LAC country where J.P. Morgan sees a rate of 2021 growth greater than magnitude of the 2020 contraction is Uruguay, says Joyce Chang. Even if you look at Chile and Colombia, she says, they see a rebound that’s only ⅔ the magnitude of the 2020 fall.

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Chang: While ARG's debt renegotiation is a “step in the right direction, it is necessary but not sufficient, though, to stabilize the macroeconomic outlook.” Challenge Argentina faces is to establish…a medium-term plan that can be communicated to the marketplace. #CouncilARG

The marketplace will be looking to how the IMF discussions materialize and what the medium-term framework is, says J.P. Morgan's Joyce Chang. Investors will looking for credible fiscal consolidation to stabilize the economy.

Watch #CouncilARG live: as-coa.org/councilarg

I’m extremely concerned w/what the crisis is leaving behind … I want to make sure we take advantage of the crisis to make things better.

Latin America & the Caribbean—and the world—have the moral obligation to build back a better society.

—@JamesPScriven @BIDInvest #CouncilARG

Argentine Health Minister @ginesggarcia gives closing remarks for #CouncilARG.

He highlights the “extraordinary success” of a federally coordinated pandemic response as it represents a unified response among different governors throughout the country.

"Health and the economy are one," says @s_segal to close the conference.

And that wraps up #CouncilARG! Many many thanks to all our speakers, sponsors, members, attendees, and our partners @CACteinforma.

Get more event materials here: as-coa.org/events/2020-la…

Weren't able to catch #CouncilARG this morning?

Have no fear—we've published videos from all of today's presentations: as-coa.org/events/2020-la…

ICYMI: Today we heard from @SantiCafiero @felipe_sola @KulfasM @ginesggarcia @horaciorlarreta @JorArguello @JamesPScriven @s_segal, and more!

Catch all the highlights with this summary of our 17th annual—and first virtual—#CouncilARG conference. as-coa.org/articles/counc…