2023-10-09 12:48:00
Isela Costantini made mention of the participation record for the IDEA 2023 colloquium and the expectation regarding what is coming for the country, depending on who wins the elections. Furthermore, he maintained that the greatest concern is in the macroeconomic issues, such as inflation and the exchange rate. He spoke regarding the candidates’ economic proposals and maintained that although Javier Milei’s ideas generate uncertainty, due to not knowing how he will take them from the theoretical framework to reality, There is also no certainty with Sergio Massa and Patricia Bullrich. “I believe that part of the dialogue of democracy is being able to listen to each other, in different sectors and by different audiences,” said the social communicator in Modo Fontevecchiaby Net TV, Radio Perfil (AM 1190) and Radio Amadeus (FM 91.1).
Nuria Am (NA): How are you watching the colloquium? Was there anything that surprised you?
The truth is that many people, I think it is participant record, and it also has to do with the expectation of what is to come. Try to listen a little, obviously from the IDEA diagnosis, what they are seeing that is most critical for the country, but also the expectation what is talked regarding in the hallways and what is coming with any of the candidates who may win the elections.
THAT: What do you think is the greatest concern and emotion experienced in the colloquium?
I think there is a expectationthere is so much to do.
When one talks regarding the pension system, when one talks regarding the development of employment, public spending. There are several critical issues that continue to appear on the agenda for what is to come in terms of the country and politics, to the waiting for a next government.
Obviously there is a greater concern, which is the macro, and seeing what happens with inflation, what happens with the exchange rate. But well, I think that’s how there is a combination of expectations regarding what is going to happen in the coming months and what the next government’s decision-making will be.
THAT: Do you perceive that there is an expectant but worried business community with positive expectations or despair?
No. We are all here and we are a group that has decided to continue investing in Argentina, we cannot be hopeless¿no?
The hope of being able to continue accompanying the development of the country continues. There is concern, in our case it is preparing for the different scenarios that can occurensuring the protection of assets, ensuring we can be close to our clients and accompany them in this process of uncertainty.
There is uncertainty, but in our case especially there is much hope that we believe we can continue investing in this country. Our group, in the last two years, has purchased large companies, and we continue to invest here, and we continue to look for purchase and growth opportunities.
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THAT: As the leader of a financial group, are you concerned regarding a scenario with what Milei proposes regarding the Central Bank and dollarization?
I think that any scenario worries. Because the reality is how the new government takes, regardless of who the president is, what is going to be happening in the coming months.
So, it is not only the ideas that one can have, because an idea has to be embodied within a realityand today’s reality is different from what the reality will be at the end of the year.
So, we also have to see how much of the ideas and intentions of each candidate will be able to be reflected in the speed and intention they have according to the reality that we find in Argentina at the time they take possession of the country.
Alexander Gomel (AG): Is there uncertainty due to the unknown that is Javier Milei?
Yes, I think that there is uncertainty with Javierbut also with the other candidates.
Perhaps one because it is more unknown within the political environment and the proposals it brings, that one questions how to implement them, but if one asks Massa’s team or Patricia’s team, how are we going to lower inflation, how are we going to normalize the dollar, at what exchange rate, is not so easy either and gives so much certainty regarding how and in what time it will be done.
So I think that There is, in general, uncertainty with the three candidates. Maybe a little more, because the proposals he is making or how he is going to implement them are not very well understood.
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Claudio Mardones (CM): You were in charge of Aerolíneas Argentinas during the first period of Mauricio Macri’s presidency, and at that time you left the position for personal reasons. Today, from a distance, can you take stock of your time in that administration?
I think that the pass by Airlines it was an incredible experiencefantastic.
On a personal level, I have always specialized in transformations, business models, and restructuring. I had done several within General Motors, and the truth is that it was to see if the challenge of being able to restructure or transform a company, in a sector in which I had no knowledge. I had my toolbox that would enable me to do it, and the truth is, yes, I might.
We put together a plan to carry out Airlines a un break-even, to a break-even point in three and a half, four years. The first year we managed to reduce the need for subsidies by 70% from one billion dollars. We come to need only 326 million dollars in the first year.
So, the truth is that reduction target was up to higher to what the government had asked us, which was to reach 420 million dollars in subsidies. So we surpassed the goal in the first year.
Not only did we exceed the financial objective, but we also managed to improve the punctuality of the flights, the number of frequencies, the number of flights that we implemented to connect the country more, we improved the profitability of the international routes that we had. So, the truth is, It was a pretty satisfying year.so much so that the plan later continues to be implemented with the team that followed.
For me it was, from a personal point of view, a nice experience, and I think it is part of what I always believed, because of the education I received at home, that one has to give back to the country what one receives. With the tools that I have as knowledge, it was the best way to be able to contribute, to reduce the public deficit a little, contributing to the reduction of subsidies necessary for Airlines.
THAT: There is an expectation regarding what Melconian can contribute, there is the possibility that Ignacio de Mendiguren will come, have you confirmed this?
I know that Melconian would come, Ignacio I don’t know if it is confirmed and he is really coming. It’s a shame, because I I believe that part of the dialogue of democracy is being able to listen to each other, in the different sectors and for the different audiences, I think it is part of being able to have greater knowledge of both sides. Let them listen a little to what the concern is on one side of the business people, on the other side of those that the politicians are watching.
So it would be important for them to beso we’ll see what happens during the morning.
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