Argentine Republic: Country Partnership Framework FY19-FY22

                                              Chair Summary*

                                               April 25, 2019

Executive Directors welcomed the discussion of the joint IBRD/IFC/MIGA Country Partnership
Framework (CPF) for the Argentine Republic for the period from FY19 to FY22. Directors
supported the overall engagement framework, which has been informed by the recent Systematic
Country Diagnostic and the shift towards institutional strengthening.

Directors welcomed the selectivity approach that focuses the WBG engagement on three strategic
areas: (i) securing access to long-term private financing on a sustainable basis; (ii) addressing key
institutional constraints for better governance and service delivery; and (iii) supporting the
implementation of Argentina’s climate-related Nationally Determined Contributions (NDCs).

Directors acknowledged the special challenges faced by the country to achieve the ambitious
structural reform agenda and the significant efforts needed to correct some of the macroeconomic
imbalances while mitigating the social costs of these changes. They noted the important role that
the World Bank Group can play in the implementation of the CPF and recognized that the CPF
incorporates the principles of the capital increase policy package.

Directors also noted that it will take time for Argentina to reach a sustainable graduation path. In
this context, important work lies ahead towards ensuring an effective transition to private-sector
led growth, and promoting jobs and economic transformation, while improving access to markets
and creating a more open economy. They noted the importance of trade openness and the
important role of regional integration, stressing the need to strengthen IFC’s interventions in these
areas. Directors welcomed Argentina’s determination to fight corruption and strengthen
institutions to improve service delivery for the most vulnerable.




*
    This summary is not an approved record.