The minister maintained that “Inequality damages the functioning of the economic, social and political system, but it is not only an economic, social and political problem, it is also an ethical problem because it depends on the people with the power to change the rules that led to the current situation.”
During his speech, the head of the Palacio de Hacienda also highlighted the debt restructuring process in Argentina and stated that “We need a better international system to solve unsustainable debt crises.” Along these lines, Guzmán emphasized the importance of “move towards a better international financial architecture that addresses all these challenges”.
Before his G20 peers, the Minister also argued that “we need a better financing system for development” and expressed Argentina’s support for the creation of the Resilience and Sustainability Fund within the framework of the IMF, to finance long-term low- and middle-income countries.
Likewise, the Minister pointed out that the crisis generated globally by Covid-19 “It showed us how interconnected the world is and the importance of multilateralism in an interconnected world”. In this sense, Guzmán affirmed that the pandemic “It had implications for economic policy and made visible the need for a multilateralism with the capacity for adaptability.”
Finally, the Minister of Economy referred to the situation of climate change by ensuring that “It is not just a development problem, it is also a balance of payments problem.”
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