The vehement critique of the Argentine government in the Jan. 31 editorial “Argentina’s crisis” mischaracterized Argentina’s process of economic growth with social inclusion. Furthermore, its poor assessment of the historic Community of Latin American and Caribbean States’ summit was puzzling. The summit, which focused on regional integration and cooperation, gathered 33 Latin American and Caribbean heads of state, including Argentine President Cristina Fernández de Kirchner, as well as the secretaries general of the United Nations and the Organization of American States.
Recent exchange-rate movements in emerging economies, including Argentina, should not overshadow Argentina’s remarkable socioeconomic achievements during the past 10 years: 7.1 percent average annual gross domestic product growth, the reduction of our debt-to-GDP ratio from 166 percent to 42 percent, the creation of more than 5 million jobs, the improvement in income distribution and the strengthening of democracy and human rights, among many others. As part of the debt reduction policy, Argentina has successfully restructured 93 percent of its debt with private creditors, canceled all of its International Monetary Fund obligations, settled final awards relating to investment disputes and recently reinforced its dialogue with the Paris Club of government debt-holders.
Contrary to The Post’s portrayal, Argentina has come a long way toward building strong foundations for prosperity since 2003. Argentina is confident and is well prepared to face any current and future challenges that may arise.
Cecilia Nahón, Washington
The writer is Argentina’s ambassador to the United States.