During a speech delivered at a September 25 AS/COA luncheon, President of Argentina Cristina Fernández de Kirchner emphasized positive changes in her country’s economy and development since she first addressed the Americas Society/Council of the Americas in 2004.
Listen to the English translation of her remarks:
Listen to the original en español:
In 2004, she said, “Argentina was experiencing a different moment.” Fernández de Kirchner pointed out that problems then stemmed from the country’s 2001 default on debt obligations, leaving nearly a quarter of the Argentine population unemployed. In the 2004 debt exchange, said the president, Argentina “recognized more for its foreign investors than what Enron paid to its creditors here in the U.S.” She described the economic policy put in place at that time that focused on “twin surpluses:” managing fiscal resources and pursuing an aggressive export-oriented bias with the goal of a trade surplus. Since then, unemployment in Argentina has dropped to its current rate of 7.8 percent, the country has developed reserves in the Central Bank, and Argentina is witnessing one of its longest consecutive periods of growth—a rate upwards of 8 percent.