Identifier
Created
Classification
Origin
07BUENOSAIRES815
2007-04-26 09:04:00
UNCLASSIFIED
Embassy Buenos Aires
Cable title:
MEDIA REACTION; ARGENTINE ECONOMIC GROWTH; ARGENTINE
how-toVZCZCXYZ0006 OO RUEHWEB DE RUEHBU #0815 1160904 ZNR UUUUU ZZH O 260904Z APR 07 FM AMEMBASSY BUENOS AIRES TO RUEHC/SECSTATE WASHDC IMMEDIATE 7967 INFO RHMFISS/CDR USSOCOM MACDILL AFB FL//SCJ2// RULGPUA/USCOMSOLANT
UNCLAS BUENOS AIRES 000815
SIPDIS
STATE FOR INR/R/MR, I/GWHA, WHA, WHA/PDA, WHA/BSC,
WHA/EPSC
CDR USSOCOM FOR J-2 IAD/LAMA
SIPDIS
E.O. 12958: N/A
TAGS: KPAO OPRC KMDR PREL MEDIA REACTION
SUBJECT: MEDIA REACTION; ARGENTINE ECONOMIC GROWTH; ARGENTINE
HOLDOUT CREDITORS; 04/25/07; BUENOS AIRES
UNCLAS BUENOS AIRES 000815
SIPDIS
STATE FOR INR/R/MR, I/GWHA, WHA, WHA/PDA, WHA/BSC,
WHA/EPSC
CDR USSOCOM FOR J-2 IAD/LAMA
SIPDIS
E.O. 12958: N/A
TAGS: KPAO OPRC KMDR PREL MEDIA REACTION
SUBJECT: MEDIA REACTION; ARGENTINE ECONOMIC GROWTH; ARGENTINE
HOLDOUT CREDITORS; 04/25/07; BUENOS AIRES
1. SUMMARY STATEMENT
Today's leading international stories include prospects of
Argentina's stunning recovery from its 2001-02 economic meltdown;
and American Task Force Argentina asking the G8 about Argentina's
debt to holdout creditors.
2. OPINION PIECES AND EDITORIALS
- "Perplexity and opportunities"
Ricardo Kirschbaum, editor-in-chief of leading "Clarin," writes
(04/25) "Argentina remains a subject of study abroad. It is one of
the major academic riddles, just like Peronism was, and still is,
for foreigners. Now, the issue is the country's economic growth and
stunning economic recovery, which is not in accordance with
traditional standards.
"During a Harvard University 'John F. Kennedy School of Government'
colloquium on Argentina held in Boston, two central issues were
tackled - sustainable growth and an updated version of Latin
American populism...
"According to the most extreme view, Argentina has not grown since
2001, but has only had a recovery of dubious sustainability and it
remains at the mercy of a foreign crisis...
"In the same way, 'populism' was compared to the Chilean model...,
although no mention was made, for example, of the fact that the
abandonment of Pinochet's military dictatorship occurred under
military tutelage, something which did not happen here.
"Finally, it was agreed that Argentina's historic opportunity cannot
be wasted and that there should be a debate on how to pave the way
for sustainable growth. However, this debate seems to be missing
from the country's agenda."
- "Holdout creditors ask about (Argentine) defaulting bonds to the
G8"
Hugo Alconada Mon, Washington-based correspondent for leading
"Clarin," penned (04/25) "Argentina's international creditors are
quite active. In a letter addressed to German FM Angela Merkel, they
have now asked the G8 to add the country's still defaulting debt to
the agenda of the meeting the G8 will be hosting June 3-6.
"According to the American Task Force Argentina (ATFA),'The G8 can
protect the integrity of the global loan system for creditors and
debtors alike.' In order to capture the G8's attention, ATFA tied
the holdouts' claims to the Paris Club and Ecuador is flirting with
the default on its own debt.
"ATFA leaders, Robert Shapiro and Nancy Soderberg, two former
high-ranking officials of the Clinton administration, warned Merkel
that the Argentine Government 'is defying international financing
norms and standards.'
"They exemplify this through the country's nil relationship with the
IMF - it refuses to let the IMF play its valued and established
business counseling role.'
"Nevertheless, according to consultant Federico Thomsen, JP Morgan
Chase VP Vladimir Werning, and Miguel Braun, Director of the Center
for Public Policies Implementation, Equity and Growth, the
(Argentine) Government is unlikely to open any negotiation with
holdout creditors before October presidential elections."
To see more Buenos Aires reporting, visit our
classified website at:
http://www.state.sqov.gov/p/wha/buenosaires
WAYNE
SIPDIS
STATE FOR INR/R/MR, I/GWHA, WHA, WHA/PDA, WHA/BSC,
WHA/EPSC
CDR USSOCOM FOR J-2 IAD/LAMA
SIPDIS
E.O. 12958: N/A
TAGS: KPAO OPRC KMDR PREL MEDIA REACTION
SUBJECT: MEDIA REACTION; ARGENTINE ECONOMIC GROWTH; ARGENTINE
HOLDOUT CREDITORS; 04/25/07; BUENOS AIRES
1. SUMMARY STATEMENT
Today's leading international stories include prospects of
Argentina's stunning recovery from its 2001-02 economic meltdown;
and American Task Force Argentina asking the G8 about Argentina's
debt to holdout creditors.
2. OPINION PIECES AND EDITORIALS
- "Perplexity and opportunities"
Ricardo Kirschbaum, editor-in-chief of leading "Clarin," writes
(04/25) "Argentina remains a subject of study abroad. It is one of
the major academic riddles, just like Peronism was, and still is,
for foreigners. Now, the issue is the country's economic growth and
stunning economic recovery, which is not in accordance with
traditional standards.
"During a Harvard University 'John F. Kennedy School of Government'
colloquium on Argentina held in Boston, two central issues were
tackled - sustainable growth and an updated version of Latin
American populism...
"According to the most extreme view, Argentina has not grown since
2001, but has only had a recovery of dubious sustainability and it
remains at the mercy of a foreign crisis...
"In the same way, 'populism' was compared to the Chilean model...,
although no mention was made, for example, of the fact that the
abandonment of Pinochet's military dictatorship occurred under
military tutelage, something which did not happen here.
"Finally, it was agreed that Argentina's historic opportunity cannot
be wasted and that there should be a debate on how to pave the way
for sustainable growth. However, this debate seems to be missing
from the country's agenda."
- "Holdout creditors ask about (Argentine) defaulting bonds to the
G8"
Hugo Alconada Mon, Washington-based correspondent for leading
"Clarin," penned (04/25) "Argentina's international creditors are
quite active. In a letter addressed to German FM Angela Merkel, they
have now asked the G8 to add the country's still defaulting debt to
the agenda of the meeting the G8 will be hosting June 3-6.
"According to the American Task Force Argentina (ATFA),'The G8 can
protect the integrity of the global loan system for creditors and
debtors alike.' In order to capture the G8's attention, ATFA tied
the holdouts' claims to the Paris Club and Ecuador is flirting with
the default on its own debt.
"ATFA leaders, Robert Shapiro and Nancy Soderberg, two former
high-ranking officials of the Clinton administration, warned Merkel
that the Argentine Government 'is defying international financing
norms and standards.'
"They exemplify this through the country's nil relationship with the
IMF - it refuses to let the IMF play its valued and established
business counseling role.'
"Nevertheless, according to consultant Federico Thomsen, JP Morgan
Chase VP Vladimir Werning, and Miguel Braun, Director of the Center
for Public Policies Implementation, Equity and Growth, the
(Argentine) Government is unlikely to open any negotiation with
holdout creditors before October presidential elections."
To see more Buenos Aires reporting, visit our
classified website at:
http://www.state.sqov.gov/p/wha/buenosaires
WAYNE