Martín Guzmán seeks to modify New York law for sovereign debts

After achieving the modification of IMF interest rates that generated a relief for Argentina of US$450 million, Martin Guzman He traveled again to Washington to participate in the annual meetings of the IMF and World Bank.

Now look for other modifications to reform the international financial architecture that allows improving the equity between debtors and creditors, and benefit Argentina.

Guzmán led a round table with the head of the World Bank, Indermit Gill and Stiglitz to advance changes in NY law for sovereign debts.

Ministers of economy, world-renowned experts, representatives of the US treasury, the IMF, the World Bankamong others. He also had meetings in United States Congress to discuss reforms in international financial institutions.

Martín Guzmán celebrated the reduction of IMF surcharges

The International Monetary Fund (IMF) announced a rpartial and limited cut in the surcharges charged to countries with high levels of debt with the organization, like Argentina. The former Minister of Economy, Martín Guzmán, one of the main promoters of the measure, celebrated the news in “X” and asked the Government to allocate the funds that the country will save to finance public education.

“The IMF reduced the interest rate it charges on its loans. It implies a relief for Argentina of almost USD 450 million per year. It is more than half of what the university financing law that the Milei government vetoed costs. Here is a financing for which a use must be defined. The money is there, What if this time they use it to finance public education?“, proposed the former official

During his administration in the Government of Alberto Fernández, and later as a former official, Guzmán worked alongside other economists and the Nobel Prize winner. Joseph Stiglitz to get the multilateral credit organization to review the high rates it charges countries with debts.

“It was a 4-year global crusade. Since our initial proposal at the G-20 in Saudi Arabia in 2020, support has been built from the G-20, legislators from the United States Congress, the United Nations, the Vatican, many academic institutions and civil society. “We worked without pause politically and technically to reform an absurd and especially harmful policy for Argentina due to the enormous amount of debt with the IMF taken on in 2018-2019,” Guzmán recalled in his post.

“Budget 2025 is a roadmap to weaken Argentina”

For Guzmán, the 2025 Budget was presented on Sunday night in the National Congress. “This is a roadmap to increasingly weaken Argentina,” had already indicated in C5N.

“It is clear that the numbers do not close for many people and for a few they close too well. The Budget is the most important law that a Government presents because it is where you decide how you are going to use the resources that society gives to the State. It is that roadmap that marks the direction you want to take to the country. What was seen yesterday is a roadmap that what it is doing is weakening Argentina more and more, it generates regression,” he explained in dialogue with him. Sylvester Cat.

Guzmán highlighted the drop in indices that show that the “productive system is worse.” “There is a worsening for many people. There is a tremendous perversity like what happens with retirees,” he said and highlighted that the Government “he resorts to lies and gives numbers that are false regarding retirements.”