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Argentina's economy minister: 'Argentina needs more time to repay'

2022-01-20T21:31:46.873Z

INTERVIEW - Argentina struggles to honor its record loan from the IMF - 45 billion dollars. She leads difficult negotiations for a new loan. The Minister of Economy, Martin Guzmán, defends his positions and explains the issues.



Martin Guzmán, 39, has been Argentina's economy minister since December 2019 in the left-wing government of President Alberto Fernandez.

He studied in the United States where he was a disciple of the Nobel Prize in Economics Joseph Stiglitz, to whom he remains close.

Le Figaro.

- You are in the midst of negotiations with the IMF.

Is an agreement absolutely necessary?

Martin GUZMAN.

-

We are indeed at a critical stage in the negotiations with the IMF.

Argentina is seeking to refinance the loan granted in 2018, for a record amount of 57 billion dollars, of which 45 billion has been disbursed.

As the evaluation of this IMF program recently confirmed, it did not achieve any of its objectives.

It did not allow Argentina to restore its growth, it did not control inflation or protect the most vulnerable.

On the contrary, it has aggravated recession, unemployment, poverty and inflation.

These 45 billion dollars were mainly used to bail out private creditors, and for more…

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Source: lefigaro

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