Argentine president Alberto Fernández returns home after a European tour. It was a decisive journey, with the aim of finding international support to avoid the nightmare of default and therefore being able to face the deadlines of 2021 with international creditors, in particular with the countries of the Paris Club, with whom there is is a deadline at the end of May.
The request, at least on paper, is simple: Argentina wants to pay the debt interest at rates similar to those of other countries (therefore around one percent) by eliminating the 2% surcharge paid by the countries that have requested maxi – credits without sufficient guarantees, such as that agreed by the previous government of Maurizio Macri. So if the proposal were accepted, totaling $ 1.3 billion in interest in 2021, Argentina would pay around 450 million.
In Portugal, Spain, France Fernández met the highest institutional officials, including the Spanish king Felipe VI, and on Thursday in the Vatican with Pope Francis. In Rome he had lunch with the President of the Republic Sergio Mattarella and was received by Mario Draghi.
In the Vatican, the meeting behind closed doors between the two Argentines lasted 20 minutes, in a complicated meeting after the recent approval of the Abortion Law.
“They also focused on the situation in the country – the official press release of the Holy See Press Office points out – with particular reference to some problems such as the management of the pandemic emergency, the economic-financial crisis and the fight against poverty, noting, in this context, the significant contribution that the Catholic Church has offered and continues to ensure “.
But perhaps the most significant meeting of the Peronist president took place at the Sofitel hotel, a stone’s throw from Villa Borghese, with the operational director of the International Monetary Fund, Kristalina Georgieva, who then participated in a seminar in the Vatican with the minister of ‘Argentine economy, Martín Guzmán, which could give the opportunity informal conversations.
On the meeting with the director of the IMF, the Argentine president who considers himself “a pragmatist” is satisfied. “It was a very productive meeting; I had never had the chance to meet Kirstalina Georgieva and we spoke frankly ». Fernández reiterates: “I declared that I want to solve the problem of foreign debt” but specifies, “by finding a path that does not mean penalizing the Argentines who are having a bad time with the pandemic and with an economy in difficulty to put in order”.
On the interest tax plus 2% of “sobrecargo” as it is called in Argentina, the president continues the briefing in the hotel lobby: to Georgieva “I told her about the conversations with European leaders”. I found that she is “a woman very aware of the situation that the world, Argentina and Latin America is experiencing.” The desire «is to find an agreement as soon as possible. But not any agreement “he assures.
«I am always optimistic and eager to obtain an agreement – continues Fernández – under the conditions indicated. She is very understanding, and we have also talked about DEGs (Special Drawing Rights), and about extending these to middle-income countries like ours, and she has shown herself in favor ».
The tenant of the Casa Rosada considered the tour “very productive”, in particular “the fact that Europe is supporting us on the subject of surcharges, that the G20 discusses topics such as those indicated by Mario Draghi, and that Macron is listening to our needs at the Paris Club ». In the meantime, another piece is missing from the puzzle, it will be next week’s meeting with Angela Merkel, after which the Argentine president hopes to “have covered the European scene”.