2Nd Cumbre Financiera Argentina

Total Page：16

File Type：pdf, Size：1020Kb

2nd Cumbre Financiera Argentina May 19, 2016 | Four Seasons | Buenos Aires, Argentina On May 19, 2016 LatinFinance returned to Buenos Aires for the second edition of the Cumbre Financiera Argentina to weigh in on the progress made during the first 6 months of Argentine President Mauricio Macri’s reform drive and to assess the steps that must now be taken to steer Latin America’s third largest economy back on a track towards sustainable growth. “A total success!” Pierpaolo Barbieri, Senior Strategist- Argentina Fund, Brevan Howard “I congratulate you all for yesterday’s forum. Everything was a success: the speakers (really good interview of Caputo), the panels, the audience, as well as the organization of the event. There is a lot of demand in Argentina for these type of conferences, keep it up and come back!” Alejandro Cerviño, Citi Investors 2016 Event in Numbers: Diego Ferro, Co-CIO, Greylock Capital Management Pablo Albina, CEO- Argentina, Schroders Investment Management Pierpaolo Barbieri, Senior Strategist - Argentina Fund, Brevan Howard Enrique Boilini, Senior Advisor to FGS, ANSES Total Pablo Wicht, Portfolio Manager, Zurich Participants 476 Andrés Finkielsztain, Portfolio Manager, Soros Fernando Jasnis, Portfolio Manager, Explorador Capital Management Federico Perez, Portfolio Manager, Axis Inversiones Roberto Chute, Principal, Rohatyn Group Investors Leandro Fisanotti, Vice President, Fondos Pellegrini 96 Juan Pablo Trujillo, Managing Partner, Pampa Capital Gabriel Goldschmidt, Head – Infrastructure in Latin America & the Caribbean, IFC Santiago Lopez Alfaro, Director, Delphos Investment Estanislao Del Campo, CIO, MAPFRE Argentina Issuers 133 Alzbeta Klein, Global Industry Director, IFC Issuers Luis Caputo, Secretary of Finance, Ministry of Finance of Argentina Juan Manuel Urtubey, Governor, Salta Province Alfredo Cornejo, Governor, Mendoza Province Daniel Gonzalez, CFO, YPF Academics (1%) Osvaldo Giordano, Minister of Finance, Province of Córdoba Lawyers (7%) Matias Gaivironsky, CFO, IRSA / Cresud Guido Sandleris, Undersecretary of Finance, Province of Buenos Aires Advisors/ Mariano Bosch, CEO, Adecoagro Consultants/ Roberto Gazze, CFO, Vicentin Brokers (11%) Issuers (33%) Gaetano Salierno, CFO, ENEL Gabriel Cohen, CFO, Pampa Energía Juan Martín Vico, CFO, Cablevisión Government Mariano Tannenbaum, Corporate Treasurer, Arcos Dorados Officials (12%) Andres Silva, Corporate Finance Director, Grupo Arcor Gustavo Grobocopatel, CEO, Grupo Los Grobo Bernardo Andrews, CFO, Compañía General de Combustibles Raul Francos, CFO, Aeropuertos Argentina 2000 Press (13%) Investors (24%) Other prominent participants Rogelio Frigerio, Minister of Interior, Argentina Diego Bossio, Congressman, Argentine Congress Sebastián Kind, Undersecretary of Renewable Energy, Ministry of Energy and Mining Manuela Lopez Menendez, Secretary of Public Works, Ministry of Transportation Francisco Gismondi, Vice-Superintendent of Financial Institutions, Central Bank of Argentina Martin Redrado, Chief Economist, Fundación Capital Julio Figueroa, CEO, Citi Argentina Gabriel Martino, CEO, HSBC Argentina www.latinfinanceevents.com/Argentina.

Copy Link

Recommended publications

Argentina's Delegative Democracy: a Case Study
ARGENTINA’S DELEGATIVE DEMOCRACY: A CASE STUDY A dissertation presented by Florencia Inés Gabriele to The Department of Political Science In partial fulfillment of the requirements for the degree of Doctor of Philosophy in the field of Political Science Northeastern University Boston, Massachusetts December 2013 1 ARGENTINA’S DELEGATIVE DEMOCRACY: A CASE STUDY by Florencia Ines Gabriele ABSTRACT OF DISSERTATION Submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in Political Science in the College of Social Sciences and Humanities of Northeastern University December, 2013 2 ABSTRACT This study analyses why Argentina remained an immature and underdeveloped delegative democracy rather than a fully-liberal democratic polity. Following the work of Guillermo O’Donnell this work explores the quality of, and serious deficiencies in, Argentina’s democracy. This work pays special attention to presidential use and misuse of Decrees of Necessity and Urgency by as a means to govern alone, thus bypassing Congress and how there is no existing check and balances in the government in this regard. Observing delegative democracies, this work also examines the following: the use of economic restrictions, use of policies such as nationalizations, privatizations, management of the federal budget, international relations of the country, restriction on the media, behavior of the judiciary branch, changes in the national constitution, and decreasing role of the Vice President. This work analyzes the relationship between democracy, decrees of necessity and urgency, laws sanctioned by Congress and inflation using transfer function models. Democracy is measured using the Polity IV dataset. There is a causal relationship among the explanatory variables (inputs) —the numbers of laws passed by Congress, inflation, and number of DNU — and Democracy (output).
[Show full text]
1 Political Shocks and Asset Prices Daniel Carnahan
Political Shocks and Asset Prices Daniel Carnahan (Business Insider) Sebastian Saiegh (University of California San Diego) Abstract We estimate how asset prices respond to a range of political shocks, including changes in a country’s economic stewardship, national elections, coup d'états, wars, and terrorist attacks. Multiple instances of these events took place in Argentina between 1967 and 2020. Using an event study approach and over 13,000 daily prices from the Buenos Aires exchange, we find that stock-market volatility increases in the days immediately following unexpected, major policy- shifting events. These results hold irrespective of whether market returns are measured in nominal terms, in local consumption units, or in US dollars. Our analysis allows us to establish comparisons across different types of political shocks while avoiding the identification problems of multi-country event studies. The most significant increase in post-event risk is associated with irregular government turnovers (coup d'états, presidential death, resignations); approximately 100 percent on average, when returns are expressed in US dollars. Volatility also increases in the days immediately following a defeat in an international war, national elections and changes in the country’s economic stewardship. No changes in stock market volatility occur, however, after terrorist attacks or when the date of a new administration’s inauguration is publicly known and determined sufficiently far in advance. Word Count: 10,929 1 Introduction Investors concerned about non-commercial risks need to consider their exposure to political events that may affect the value of their assets. These political risks can originate in specific government actions, such as laws or regulations.
[Show full text]
La Cadena Del Desánimo Pablo Katchadjian Nació En Buenos Ai- Res En 1977
La cadena del desánimo Pablo Katchadjian nació en Buenos Ai- res en 1977. Publicó Gracias (Blatt & Ríos, 2011), Mucho trabajo (Spiral Jetty, 2011), Qué hacer (Bajo la luna, 2010), El Aleph engordado (IAP, 2009), El Martín Fierro ordenado alfabéticamente (IAP, 2007) y tres libros de poesía: el cam del alch (IAP, 2005), dp canta el alma (Vox, 2004) y, en colabora- ción con Marcelo Galindo y Santiago Pin- tabona, los albañiles (IAP, 2005). LA CADENA DEL DESÁNIMO Pablo Katchadjian Katchadjian, Pablo La cadena del desánimo. - 1a ed. - Buenos Aires : Blatt & Ríos, 2013. 156 p. ; 18x13 cm. ISBN 978-987-29225-5-9 1. Poesía Argentina. I. Título CDD A861 © 2013 Pablo Katchadjian © 2013 Blatt & Ríos Larrea 328 3° B C1030AAH, Buenos Aires, Argentina Diseño de colección: Trineo Comunicación Diseño de tapa: Mica Hernández | www.micahernandez.com.ar Imagen de tapa y contratapa: Semillas en marcha, de Takayuki Nakajima Blatt & Ríos es un sello de Recursos Editoriales blatt-rios.tumblr.com facebook.com/BlattRios www.recursoseditoriales.com ISBN: 978-987-29225-5-9 Queda prohibida la reproducción total o parcial de esta obra, por cualquier medio o procedimiento, sin permiso previo del editor y/o autor. 7 Así como el contenido del sueño está armado con restos de la vida diurna y el sueño mismo podría ser un epifenómeno del trabajo nocturno del cerebro organizando lo vivido, este libro, armado con restos de La Nación, Clarín, Página/12 y Perﬁl, es un epifenómeno de mi lectura matutina diaria en- tre el lunes 12 de marzo y el jueves 6 de diciembre de 2012.
[Show full text]
Argentina: Rudderless
1 110TH CONGRESS " ! S. PRT. 2d Session COMMITTEE PRINT 110–48 ARGENTINA: RUDDERLESS REPORT TO THE MEMBERS OF THE COMMITTEE ON FOREIGN RELATIONS UNITED STATES SENATE ONE HUNDRED TENTH CONGRESS SECOND SESSION SEPTEMBER 9, 2008 Printed for the use of the Committee on Foreign Relations Available via World Wide Web: http://www.gpoaccess.gov/congress/ index.html U.S. GOVERNMENT PRINTING OFFICE 44–239 PDF WASHINGTON : 2008 For sale by the Superintendent of Documents, U.S. Government Printing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 VerDate Aug 31 2005 16:39 Sep 11, 2008 Jkt 000000 PO 00000 Frm 00001 Fmt 5012 Sfmt 5012 H:\DOCS\44239.TXT sfrela2 PsN: MIKEB seneagle COMMITTEE ON FOREIGN RELATIONS JOSEPH R. BIDEN, JR., DELAWARE, Chairman CHRISTOPHER J. DODD, Connecticut RICHARD G. LUGAR, Indiana JOHN F. KERRY, Massachusetts CHUCK HAGEL, Nebraska RUSSELL D. FEINGOLD, Wisconsin NORM COLEMAN, Minnesota BARBARA BOXER, California BOB CORKER, Tennessee BILL NELSON, Florida JOHN E. SUNUNU, New Hampshire BARACK OBAMA, Illinois GEORGE V. VOINOVICH, Ohio ROBERT MENENDEZ, New Jersey LISA MURKOWSKI, Alaska BENJAMIN L. CARDIN, Maryland JIM DEMINT, South Carolina ROBERT P. CASEY, JR., Pennsylvania JOHNNY ISAKSON, Georgia JIM WEBB, Virginia DAVID VITTER, Louisiana ANTONY J. BLINKEN, Staff Director KENNETH A. MYERS, JR., Republican Staff Director (II) VerDate Aug 31 2005 16:39 Sep 11, 2008 Jkt 000000 PO 00000 Frm 00002 Fmt 5904 Sfmt 5904 H:\DOCS\44239.TXT sfrela2 PsN: MIKEB CONTENTS Page Letter of Transmittal ............................................................................................... v Introduction .............................................................................................................
[Show full text]
The Cost of Populism in Argentina, 2003-2015 MISES: Interdisciplinary Journal of Philosophy Law and Economics, Vol
MISES: Interdisciplinary Journal of Philosophy Law and Economics ISSN: 2318-0811 ISSN: 2594-9187 Instituto Ludwig von Mises - Brasil Cachanosky, Nicolas The Cost of Populism in Argentina, 2003-2015 MISES: Interdisciplinary Journal of Philosophy Law and Economics, vol. 6, Esp., 2018, pp. 621-635 Instituto Ludwig von Mises - Brasil DOI: 10.30800/mises.2018.v0.965 Available in: http://www.redalyc.org/articulo.oa?id=586364252005 How to cite Complete issue Scientific Information System Redalyc More information about this article Network of Scientific Journals from Latin America and the Caribbean, Spain and Journal's webpage in redalyc.org Portugal Project academic non-profit, developed under the open access initiative MISES: Revista Interdisciplinar de Filosofia, Direito e Economia ISSN 2318-0811 Volume VI, Special Issue 2018 : 621-635 The Cost of Populism in Argentina, 2003-2015 Nicolas Cachanosky* Abstract: This paper studies the historical context, and economic and institutional impact of the Néstor Kirchner’s and Cristina Fernández de Kirchner’s presidencies (Kirchner-Kirchner administration) in Argentina. The effects of the major economic policies during their presidency are explained as well as the indices fall of the institutional quality. The challenges of stepping out of populism are also mentioned. Keywords: Populism, Argentina, Kirchner Administration, Economic Development, Latin America O Custo do Populismo na Argentina, 2003-2015 Resumo: Este artigo estuda o contexto histórico e o impacto econômico e institucional das presidências de Néstor Kirchner e Cristina Fernández de Kirchner (administração Kirchner-Kirchner) na Argentina. Os efeitos das principais políticas econômicas durante a presidência são explicados, bem como a queda dos índices de qualidade institucional.
[Show full text]
Private Investment Response to Neoliberal Reforms: Implications of the Argentine Case, 1989-1996
Private Investment Response to Neoliberal Reforms: Implications of the Argentine Case, 1989-1996 March 1997 Juan J. López Assistant Professor Department of Political Science The University of Illinois at Chicago 1007 West Harrison Street (M/C 276) Chicago, IL 60607-7137 Phone: (312) 413-3783 Fax: (312) 413-0440 E-mail: [email protected] Draft: comments welcome Prepared for delivery at the 1997 meeting of the Latin American Studies Association, Continental Plaza Hotel, Guadalajara, Mexico, April 17-19, 1997. 1 Introduction Warren Christopher, then the U.S. Secretary of State, in visit to Buenos Aires in February 1996 declared that Menem and Cavallo "had done in Argentina one of the great economic successes of the century."1 This is the official line in Argentina, echoed by fervent supporters of neoliberal economic reforms abroad. If one only looked at some official statistics on economic growth and investment, one might conclude that economically Argentina is doing wonderfully. Budget deficits have been significantly reduced.2 Since April 1991, after the Convertibility Plan, inflation has been kept at low levels. For the period 1990 to 1995, the annual average rate of GDP growth was 5 percent.3 Gross domestic investment grew at an average annual rate of 12 percent between 1990 and 1995.4 Yet a sober look at the data on the economic situation in Argentina raises serious doubts as to whether a solid foundation is being build in the country for sustainable economic growth. The economic growth since 1991 is to a large extent due to the influx of dollars from abroad and to the utilization of idle productive capacity that firms had.5 Unemployment and 1 Clarín, Edición Internacional, February 27 to March 14, 1996, p.
[Show full text]
List of Invitees for the Latin America Inaugural Regional Meeting
Inaugural Meeting, Latin America Emerging Markets Forum Madrid, 7June 2007, Banco de España List of Participants Luis Mira Amaral, Former Minister of Industry of Portugal; Co-Chairman Europe, Mercosur European Union Business Forum, Portugal Paulina Beato, Member of the Board of Directors, Repsol-Ypf and Advisor, Secretaria General Iberoamericana, Spain Mario Blejer, Former Governor, Central Bank of Argentina; Director, Centre for Central Banking Studies, Bank of England, United Kingdom Maria Eugenia Brizuela, President, Banco Salvadoreño, Salvador Walter Cancela, President, Central Bank of Uruguay, Uruguay Luis Miguel Castilla, Head, Public Policies and Competitiveness, Chief Economist, Corporación Andina de Fomento (CAF), Venezuela Leslie Crawford, Bureau Chief, Financial Times, Spain Guillermo de la Dehesa, Member of the Board, Banco Santander, Vice-Chairman, Goldman Sachs Europe, Spain Juan Carlos Echeverri, Former Director of Planning of Colombia; Dean, Faculty of Economics, Universidad de los Andes, Colombia Antonio Estrany y Gendre, Senior Vice-President, Bridas Corporation, President, Consejo Interamericano de la Producción y del Comercio, Argentina Miguel Fernandez Ordoñez, Governor, Banco de España, Spain L. Enrique Garcia, President and Chief Executive Officer, Corporación Andina de Fomento (CAF), Venezuela Manuel González, Former Minister of Trade of Costa Rica, Partner, Facio & Cañas, Costa Rica Werner Hermann, Director, Swiss National Bank, Switzerland Heinz Hauser, Professor of International Economics, Director
[Show full text]
THE CASE of the ARGENTINE SENATE By
FEDERALISM AND THE LIMITS OF PRESIDENTIAL POWERS: THE CASE OF THE ARGENTINE SENATE by Hirokazu Kikuchi LL.B. in Political Science, Keio University, 2001 LL.M. in Political Science, Keio University, 2003 Submitted to the Graduate Faculty of the Dietrich School of Arts and Sciences in partial fulfillment of the requirements for the degree of Doctor of Philosophy University of Pittsburgh 2012 UNIVERSITY OF PITTSBURGH THE DIETRICH SCHOOL OF ARTS AND SCIENCES This dissertation was presented by Hirokazu Kikuchi It was defended on November 2, 2012 and approved by Ernesto F. Calvo, Associate Professor, Department of Government and Politics, University of Maryland Scott Morgenstern, Associate Professor, Department of Political Science Jennifer Nicoll Victor, Assistant Professor, Department of Public and International Affairs, George Mason University Dissertation Advisor: Aníbal S. Pérez-Liñán, Associate Professor, Department of Political Science ii Copyright © by Hirokazu Kikuchi 2012 iii FEDERALISM AND THE LIMITS OF PRESIDENTIAL POWERS: THE CASE OF THE ARGENTINE SENATE Hirokazu Kikuchi, PhD University of Pittsburgh, 2012 Under what conditions can subnational governments be national veto players? Many studies of federal countries have regarded governors as national veto players even though they do not have such a constitutional status. However, the statistical tests of comparative legislative studies and those of comparative federalism have not succeeded in showing gubernatorial effects on a national political arena. In this dissertation, I study the conditions under which governors can be national veto players by focusing on the treatment of presidential bills between 1983 and 2007 in the Argentine Senate. The dissertation shows that the Senate serves as an arena for subnational governments to influence national politics.
[Show full text]
Introduction
Notes Introduction 1. Ruth Capriles and Marisol Rodríguez de Gonzalo, “Economic and Business History in Venezuela,” in Business History in Latin America: the Experience of Seven Countries, eds. Carlos Dávila and Rory Miller (Liverpool, UK: Liverpool University Press, 1999), pp. 158–75; the quote is from p. 160. Octávio Rodriguez, Teoria do subdesenvolvimento da Cepal (Rio: Forense- Universitário, 1981). 2. World Bank, World Development Report 1999/2000 (New York: Oxford University Press, 1999), pp. 258–59; World Bank, 1999 World Development Indicators (Washington, DC: World Bank, 1999), pp. 204–10 for the mer- chandise trade and pp. 212–18 for the service trade. 3. Thomas L. Friedman, The Lexus and the Olive Tree (New York: Farr, Straus and Giroux, 1999), p. 52. 4. “World Stocks,” Asia Week (9 April 1999), p. 67. 5. United Nations Conference on Trade and Development (UNCTAD), World Investment Report 1997: Transnational Corporations, Market Structure and Competition Policy (New York: United Nations, 1997), pp. 72, 303. 6. World Development Report 1999/2000, p. 15. 7. Horacio Verbitsky, El vuelo (Buenos Aires: Planeta-Espejo de la Argentina, 1995). This is a remarkable mea culpa story by a naval officer who was involved in the operation that routinely eliminated opponents of the regime and subversives by drugging them first, then flying them out to the ocean, and finally dumping them into the ocean. 8. Maria Celina D’Araújo and Celso Castro, org., Ernesto Geisel, 2nd ed. (Rio: Fundação Getúlio Vargas, 1997), p. 230. 9. Angelo Codevilla, “Is Pinochet the Model?” Foreign Affairs (November–December 1993), pp. 127–41.
[Show full text]
Country Report: the Republic of Argentina May 2014 Alaina J
Del Real 1 Country Report: The Republic of Argentina May 2014 Alaina J. Del Real Honors Adviser: Professor William Lucas Honors in International Studies Spring 2014 Del Real 2 Abstract These four country reports, Argentina, Chile, Colombia and Ecuador, covered the current popular and official climate between the country and the United States, important cultural sensitivities and economic challenges facing the country.1 Each report analyzed how the U.S. is portrayed in the national media, the official stance and policies toward the U.S. The economy section stands separate from the political and social, covering the national economy, trade, and debt, if it poses an obstacle for the nation. Each report builds upon media reports, Congressional briefings, State Department Press Releases, and international organization’s documents. Argentina, under President Kirchner’s predominantly anti-US rhetoric, weakened US-Argentine relations, but the economy is slowly rebounding. The country report findings place Argentina as a tense ally, with weakening diplomatic efforts from Washington. US-Argentine media relations reflect Kirchner’s rhetoric with anti-US articles. Argentina’s default in the early 2000s still plagues the nation and pushed US courts into ruling upon lender-debtor etiquette. 1 The current climate referred to the public perception and attitude toward the United States and Americans, in the government and society. Del Real 3 I. Introduction The Argentine Republic’s contemporary history is marred by consecutive financial crises and failed economic policies that alienated the South American nation regionally and internationally. A brief look back at Argentina from independence up to the present displays a tumultuous political relationship with the United States that has recently slipped into the background of US- Latin American relations.
[Show full text]
Memoria 2014 Mesa Directiva
MEMORIA 2014 MESA DIRECTIVA Presidente . ADELMO J. J. GABBI Representante de Socios Vicepresidente 1º . HÉCTOR A. ORLANDO Representante de Agentes de Bolsa o Ptes. o Viceptes. de Sociedades de Bolsa Vicepresidente 2º . ERNESTO ALLARIA Representante de Comerciantes Secretario . GUILLERMO A. CARRACEDO Representante de Socios Tesorero . CARLOS A. MOLINA Representante de Industriales Prosecretario . CÉSAR A. TORTORELLA Representante de Ganaderos Protesorero . FRANCISCO M. CHIAPARA Representante de Socios Inversores Vocales . RUBÉN C. MUSTICA Representante de Comerciantes JORGE R. PÉREZ Representante de Operadores de Mercado JORGE A. LEVY Representante de Exportadores MARCERLO A. MENÉNDEZ Representante de Financista EDUARDO A. SANTAMARINA Representante de Agentes de Bolsa o Ptes. o Viceptes. de Sociedades de Bolsa Revisor de Cuentas . CARLOS D. DOKSER 3 CONSEJEROS TITULARES Electos por Asamblea Inciso Rubro Nombre Finaliza en: 1º Tres Socios de la Guillermo A. Carracedo ...................................... 2015 Asociación Alberto L. Molinari ............................................. 2016 Adelmo J. J. Gabbi ............................................. 2017 2º Seis Agentes de Bolsa Federico Tomasevich .......................................... 2015 o Ptes. o Vptes. de Jorge H. Cohen ................................................. 2015 Sociedades de Bolsa Héctor A. Orlando .............................................. 2016 Pablo M. Cairoli ................................................. 2016 Eduardo A. Santamarina ....................................
[Show full text]
Argentina Country Strategy Paper 2007-2013
EUROPEAN COMMISSION ARGENTINA COUNTRY STRATEGY PAPER 2007-2013 23.04.2007 (E/2007/753) TABLE OF CONTENTS EXECUTIVE SUMMARY................................................................................................................................... 3 1. EU/EC CO-OPERATION OBJECTIVES.................................................................................................. 4 1.1 THE EU TREATY OBJECTIVES FOR EXTERNAL CO-OPERATION ................................................................... 4 1.2 THE OBJECTIVES SET OUT IN THE APPLICABLE REGULATION/AGREEMENT GOVERNING THE CO- OPERATION AND REGION-SPECIFIC CO-OPERATION OBJECTIVES ........................................................................... 4 1.3 EUROPEAN COMMUNITY’S DEVELOPMENT POLICY................................................................................... 5 2. AN OUTLINE OF ARGENTINA’S POLICY AGENDA.......................................................................... 6 3. AN ANALYSIS OF THE POLITICAL, ECONOMIC, SOCIAL AND ENVIRONMENTAL SITUATION .......................................................................................................................................................... 7 3.1 ANALYSIS OF THE POLITICAL SITUATION ................................................................................................... 8 3.2 ANALYSIS OF THE ECONOMIC SITUATION................................................................................................. 10 3.3 TRADE STRUCTURE.................................................................................................................................
[Show full text]