Two dialoguing governors demanded a 'permanent RIGI' and asked not to backtrack on fiscal balance

Governors Alberto Weretilneck of Río Negro and Raúl Jalil of Catamarca have publicly backed President Javier Milei's economic agenda, advocating for a "permanent RIGI" (a foreign investment promotion law) and urging against any backsliding on fiscal balance. Speaking at the 43rd Congress of the Argentine Institute of Finance Executives (IAEF), the governors stressed the necessity of maintaining economic stability and international reintegration to foster investment.

Weretilneck specifically endorsed the government's stabilization policies and its efforts to rejoin the international community, pointing to trade agreements with the United States and the European Union as irreversible. He also underscored that fiscal equilibrium is non-negotiable, although discussions continue regarding provincial support and public infrastructure investment. The governors acknowledged that withholding funds and halting public works are common grievances among provincial leaders, but the national government insists on these measures to preserve the fiscal surplus.

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[Fiscal and commercial balance] are central aspects and we, as governors, beyond not belonging to the Government party, agree with these definitions.

Jalil reported that most provinces currently maintain a fiscal surplus and emphasized the collective responsibility of provincial leaders to reduce taxes and enhance competitiveness. He noted a significant increase in U.S. interest in investing in Argentina, particularly following Milei's engagement with the Trump administration. Jalil sees this renewed interest as beneficial for Catamarca, especially in mining concessions where American companies are showing a willingness to invest.

Both governors celebrated the growth within their regional economies. Weretilneck highlighted a favorable outlook for Río Negro's traditional sectors, such as fruit farming (apples and pears) and winemaking, noting that agricultural development is being bolstered by financing from the Inter-American Development Bank (IDB). Despite a 30% loss in the harvest due to adverse weather conditions this year, the province's traditional activities remain strong.

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I see that the United States is interested in projects in Argentina. Before it watched and speculated, and now it has a different view. And that is good for Catamarca.