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In the middle of negotiating the debt, Martín Guzmán announced that he is preparing a tax reform

2020-08-03T23:46:18.090Z


In the middle of the conversation with the bondholders, the minister had a virtual meeting with deputies of the Front of All. It will withdraw the VAT increase on liquid milk.


Pablo Ibáñez

08/03/2020 - 20:14

  • Clarín.com
  • Politics

"We are working, it is still missing," said Martin Guzmán, laconic, almost uncomfortable. Seconds earlier, Sergio Massa had come to his aid by "tackling" a deputy who consulted him, cautiously, about how the negotiation of the debt swap was progressing.

"Let's not ask the minister to say something that could complicate the final stage of the negotiation," Massa, diplomat, interceded during the conversation by Zoom who commanded from his office with Máximo Kirchner, president of the block of the Frente de Todos (FdT ).

It was just a flash in a teleconference that the Minister of Economy had this Monday at 4 in the afternoon with a handful of deputies of the Front of All (FdT) while versions of an agreement with the bondholders burned outside.

The versions of an agreement with the bondholders that had an impact on the legislative agenda were raging at that time because this Tuesday, Deputies will deal with the exchange of debt issued under local legislation, an offer that is sealed in the project that will be approved this Tuesday.

There was even a consultation on how the offer affected foreign funds on the internal front. He was consulted by the Buenos Aires deputy Itaí Hagman. Guzmán pointed out that both swaps are not tied.

After a while, a majority opinion came out of the Budget Commission so that the bill, which was approved last week by the Senate, becomes law on Tuesday.

Guzmán left other definitions in that talk: he asked that the three articles seeking to standardize the VAT on milk be withdrawn from the 2020 budget expansion project sent by the Executive .

That line of the official project generated crossfire: Guzmán's argument was that some types of milk were taxed 21 and others 0 and that, in this way, a point of agreement had to be found in 10.5%.

For now, the minister asked to exclude that point and anticipated that when he sends, before September 15, the draft Budget 2021, he will send a series of tax measures. Among them, there will be one referring to VAT on milk.

The retouching at that point, supposed an extra collection of 1,800 million pesos that, in the end, was considered low impact in a budget expansion of 1.8 trillion pesos.

With this, the minister takes one of the issues that the opposition objected from the ring but leaves the other issue discussed: his request for authorization of debt to issue a bond in dollars for 1,500 million.

That measure, announced by Guzmán a few days ago, unleashed a criticism that hurts in Olivos: that of Roberto Lavagna. The former minister, in good dialogue with Alberto Fernández and Guzmán, questioned the dollarization of debt issued in pesos.

The minister devoted himself, for a time, to explaining to the deputies that decision that seems contrary to the de-dollarization that the Government tried. Guzmán pointed it out: " At this time, we pesified debt for almost 8 billion dollars."

Massa and Kirchner, Carlos Heller, Fernanda Vallejos, Itai Hagman, José Luis Gioja, Germán Martínez Lucía Corpacci and, among others, Sergio Casas, from La Rioja, listened to Guzmán's explanations about the "dollarization" of that debt.

The minister explained that "speculative funds" that were "locked" in the local market were to be released after the re-profiling that was arranged at the end of his term by Mauricio Macri.

"They permanently seek to exit and put pressure on the spot with liqui or any other mechanism. It is better to give them an exit tool where we put the terms," ​​argued the minister.

Although, with the custody of Massa, Guzmán avoided talking about the negotiation with the bondholders, he spoke about the negotiation with the IMF, which, he said, will begin as soon as the agreement with the private parties is closed.

Source: clarin

All news articles on 2020-08-03

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