GERMANY: Argentine President Cristina Fernandez de Kirchner meets German Chancellor Angela Merkel

Record ID: 572877

  • Title: GERMANY: Argentine President Cristina Fernandez de Kirchner meets German Chancellor Angela Merkel
  • Date: 7th October 2010
  • Summary: (*** FLASH PHOTOGRAPHY ***) KIRCHNER AND MERKEL ARRIVING FOR NEWS CONFERENCE FOLLOWING THEIR TALKS WIDE OF KIRCHNER AND MERKEL ON PODIUM MERKEL LOOKING AROUND PHOTOGRAPHER TAKING PICTURES (SOUNDBITE) (Spanish) ARGENTINE PRESIDENT, CRISTINA FERNANDEZ DE KIRCHNER, SAYING (ACCORDING TO OFFICIAL GERMAN TRANSLATION): "One of the goals is to create trade between our two countries in a way which is profitable for both countries. The Argentine trade balance with Germany has always been loss-making and we believe that among good friends, we should both profit. That's why we believe that it should be presented as such. In this context -- even though this is a topic for the European Union -- we (discussed) the import restrictions for Argentine meat to Germany, our second largest buyer. There are certain restrictions now but that's an issue which can be discussed later still." CAMERAMAN FILMING WIDE OF KIRCHNER AND MERKEL AS REPORTER ASKS A QUESTION MERKEL SMILING / KIRCHNER ASKING REPORTER TO REPEAT QUESTION AS SHE DOES A CURTSY REPORTERS SEATED (SOUNDBITE) (Spanish) ARGENTINE PRESIDENT, CRISTINA FERNANDEZ DE KIRCHNER, SAYING (ACCORDING TO OFFICIAL GERMAN TRANSLATION): "We also discussed the issue of the Paris Club as one of the different topics we touched on. I spoke about the Argentine position and the IMF's involvement in these negotiations. Argentina's intention has always been to pay its debts. Even before the fall of Lehman Brothers we made it known that we decided to pay back these debts. Of course the international situation changed and we still have the same intention. But we believe the renegotiation of this debt with the Paris Club should also contemplate investments by Paris Club countries in Argentina, where companies get fiscal benefits and loans." REPORTERS TAKING NOTES MERKEL AND KIRCHNER WALKING OFF AND SHAKING HANDS IN FRONT OF THEIR RESPECTIVE FLAGS
  • Embargoed: 22nd October 2010 13:00
  • Keywords:
  • Location: Germany
  • Country: Germany
  • Topics: International Relations
  • Reuters ID: LVA3PHA7CQ7YNW5CO0U78JI2X4M
  • Story Text: Tax benefits and loans enjoyed by foreign companies in Argentina should be taken into account in negotiations with its Paris Club creditors, Argentine President Cristina Fernandez de Kirchner said in Berlin on Wednesday (October 06).
    She told a joint news conference with Germany's Angela Merkel that "Argentina's intention has always been to pay its debts", and that its "position on the participation of the International Monetary Fund in the negotiations is well known".
    The government in Buenos Aires has refused an IMF review of its economy since 2006, arguing that IMF mismanagement helped to precipitate the 2001-2002 economic crisis that led to a default of about $100 billion of sovereign debt.
    Argentine officials have denied media reports that they are divided on whether to mend fences with the IMF to refinance its Paris Club debt and further improve access to financing after a $12.3 billion swap of defaulted debt earlier this year.
    Argentina is trying to restructure its debts of about $7 billion to the Paris Club, which includes Germany, other major European powers and the United States, but Fernandez said this should take into account foreign firms' activities in Argentina.
    "We believe the renegotiation of this debt with the Paris Club should also contemplate investments by Paris Club countries in Argentina, where companies get fiscal benefits and loans that allow these European companies to send profits home," she said.
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