07/12/2020 - 8:47
- Clarín.com
- Politics
In the midst of the coronavirus pandemic and negotiations with creditors, the Minister of the Economy, Martín Guzmán, made reference to the aforementioned "day after" and explained that they will seek to clean up public finances but that the stocks cannot be lifted "from a day for the other ".
"It is not that reaching an agreement will solve the problems of the economy. It is a starting point to have sound public finances and to have certainty in the private sector. There are problems that will take time. Throughout our government we aim for there to be changes in the regulation of the capital account, what you call the stocks, but it cannot be done overnight without generating resilience and robustness. How is it built? Could it accumulate reserves. It would be imprudent to take very fast, "said the minister.
In an interview published by La Nación , the official also referred to the country's debt to creditors and was optimistic: "All the steps we have taken show that Argentina has a full will to reach an agreement ."
In this sense, he insisted: "The point is that this agreement must serve the country to establish conditions for recovery. We have made the maximum effort, the last one, and now we are waiting for a response from the creditors."
On the Ad-Hoc group, in which BlackRock is located, which in principle rejected the proposal, Guzmán clarified: "There are always incentives to ask for more. There is a group of creditors with whom we managed to agree before coming out with the offer. and there was another group, that of the Ad-Hoc group, which at one point stopped wanting to negotiate, they stood up and wanted Argentina to go beyond what the country can. "
What will change in the economy if an agreement is reached? "That Argentina, both the private and public sectors, will have the conditions to generate jobs, generate inclusion, more opportunities, and address its problems of labor informality, poverty and indigence," he said.
Regarding the economic crisis that Argentina and the world are experiencing as a result of the pandemic, Guzmán spoke of a panorama of "uncertainty" and called for "prudence" .
"The Argentine economy was ill and the coronavirus arrived, which makes it more difficult to deal with the problem. Argentina does not have access to financing that other economies with healthy finances have," he analyzed.
Although he did not justify the issue and the deficit, Guzmán concealed himself in the difficult moment the country is experiencing: "It is clear that you cannot live with debt-financed deficits all the time , because at some point that explodes, just as it is clear that you cannot live all the time with a deficit financed by the monetary authority, because those pesos start to go to the dollar and generate inflation problems. But it also has to be clear that we are in a very difficult time and that we must move towards normalization that allows the State to make public policies to generate more productivity, more employment. "