The Argentine Business Association warned of high inflation and called for respect for institutions

The powerful Argentine Business Association (AEA), the entity that brings together the main Argentine business owners, held its first meeting this year in which the importance of the distribution of powers and the need for an independent judiciary were highlighted as necessary conditions for the development of the country.

The AEA was also outspoken in pointing out that the significant challenges the country will inevitably face require “very arduous and rigorous political and technical work that will not admit of improvisation.”

“At the beginning of a decisive year for the life of our country, the businessmen who are members of the AEA want to underline, first of all, that the respect for institutions of the Republic is a necessary condition for development,” the businessmen said in an open reference to the conflict between the executive branch and the Supreme Court of Justice.

“It is inevitable that Argentina, in order to develop, tries to achieve normalcy in terms of economic policies. For many years we have lived with the scourge of high inflation, with permanent deficits in the public accounts, with the absence of a respected national currency, with a very high and distorted tax burden on the formal sector, with permanent changes in the rules of the game, with different exchange rates, with undue interference in the perimeter of companies such as price controls, or multiple restrictions related to foreign trade; to cite just a few anomalies”, underlined the press release of the entity which presides Jaime Campos.

“We are aware that in order to reverse these anomalies – which are unsustainable over time – and adopt virtuous economic policies such as those prevailing in successful countries, Argentina must inevitably face significant challenges”, assured the men of ‘business.

And, in this sense, they specified that “it will require a very arduous and rigorous political and technical work which will not admit improvisations. The advantages for Argentina of moving resolutely in this direction are obvious since they will make it possible to mobilize the energies of the private sector, to generate more income and jobs and to reduce poverty. This, in turn, will allow to fully exploit the opportunities offered by our country in the fields of agriculture, energy and mining, as well as in the manufacturing and services sectors.

During the internal meeting, the AEA incorporated new members and reconfirmed Campos as its president, for another term. They were also re-elected to their positions Federico Brown, as vice-president; For Jules Saguier, as a vowel; and was appointed to mariano bosch as a new member

The five new members are:

-Claudia Alvarez ArguellesPresident and CEO of Álvarez Argüelles Hotels, the chain with more than 70 years of experience and 1,300 rooms in 12 properties in Mar del Plata, where he is from, Neuquén, Salta, La Plata, Santa Rosa and Buenos Aires.

-Pier Paolo Barbierifounder and CEO of fintech Ualá.

-Martin CastelliChairman of Blue Star Group, the global fashion accessories and women’s accessories company with the Todo Moda and Isadora brands.

-Ignacio Lartirigoyen, co-founder and president of Lartirigoyen & Cía, a company in the agro-industrial sector, dedicated to the production of cereals, beef and pork, storage of cereals (through 20 factories and more than 45 branches). The group has more than 1,200 employees.

-Enrique Duhau, President of AE Duhau, a family farming company that produces corn, wheat, soybeans and sunflowers in the provinces of Buenos Aires, Chaco and Santa Fé. She is also a shareholder of Azul Natural Beef.

Additionally, confirming that Campos remains president of the business entity, the AEA Board of Directors was composed as follows:

Vice-presidents: Louis Pagani (Camber), Paul Roca (Techint), Hector Magneto (Bugle), Sebastien Bago (bago), Carlos Miguens (Miguelens Group), Alfredo Coto (Coto Supermarkets), Cristiano Rattazzi (Modena Group), Federico Braun (Anonymous) and Luis Perez Company (Perez Compac Group).

Secretary: Alberto Grimoldi (Grimoldi).

Treasurer: Enrique Cristofani (Santander).

Vowels: Edward Elsztain, Julius Saguier, Marcelo Arguelles, Albert Hojman, Jorge Aufiero, Norberto Morita, Marcos Galperin, Alexander Bulgheroni, Maria Luisa Macchiavello, Martin Migoya, Charlie Blaquier y Mariano Bosch.

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