The head of the Treasury also acknowledged that at this moment the Government “is negotiating to have international support to the economic policy scheme proposed by the national government “and assured that “When an agreement is reached, it must provide financing to pay the IMF itself the debts that were taken in 2018 and 2019. In the detail of points that this program will have, the minister assured that points to a reduction in monetary issue.
Guzmán remarked that “The main stress” that the Argentine economy faces in order to continue on the path of recovery is debt with the International Monetary Fund (IMF) and that solving the debt problem “is not a question of visions but of interests at stake.” In this sense, he analyzed that “the interests of creditors are to collect and if the Argentine economy makes a recessive program, it will grow less; The government’s priority is for Argentina to continue on the path of recovery. That is why it is important that we act with the necessary firmness. “
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About the future, the minister warned that “the agreement with the IMF will not solve all the problems of external indebtedness of Argentina; There is much work to be done; the problem is so great that it will take years to solve it “and he recalled that the debt commitments pose an” absolutely unsustainable situation “, by ensuring that the public sector and the private sector in Argentina will have to face maturities of US $ 28,000 million in 2022 and US $ 30,000 million in 2023, double the country’s trade surplus.
On this, the minister asserted that “it is necessary to be able to refinance those debts, because they represent the ability to move forward with a vision of economic programming without conditions “and he detailed:” An unsustainable debt was taken on that could only be paid if there was a confidence shock and we know that none of that happened. The economic situation worsened in a profound way “, he pointed out. In any case, he warned that eThe agreement must be “without having conditions from the payment to the IMF, nor from the policies. It is very important that we have the sovereign capacity to carry out the economic policies of the Nation, “he said.
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Guzmán explained that when the Fernández government took office on December 10, 2019 “the maturity profile of the entire public sector was payments of 23,000 million dollars in 2020, almost 25,000 million dollars in 2021 and almost 32,000 million dollars in the years 2022 and 2023 “.” The magnitude of the problem is so great that it’s going to take years to figure it out“, Held.
Source From: Ambito
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