Boudou met with Ministers of Agriculture of the G-20 to discuss the volatility of the commodities
City of Buenos Aires, May 20, 2011
The Minister of Economy, Amado Boudou, met with the ministers of agriculture of the countries comprising the G-20 to find a decline in the volatility of the commodities market. He said they were able to leave the position of the central countries and seek a solution to avoid “what happened to the housing bubble” in 2008.
The summit of raw materials of the group was held in the Hotel Alvear, and was in charge of Argentine official.
“The focus of the analysis was on reducing price volatility, ” Boudou said, adding that “we interpret that Argentina’s position has been taken into account by the G-20″, but “here we listened to opposing views.”
The Minister also indicated that there was talk of regulating financial markets and increase food supply through technology investment and the increase of the agricultural frontier.
“The worst damage is the volatility in the commodities market, not the price rise,” he said, adding that they should consider the “links (between the) real economy and financial markets. “