Economy Minister Martín Guzmán spoke with the president of JP Morgan for Argentina and the Southern Cone, Facundo Gómez Minujin, at the third edition of the AmCham Summit, a meeting of the United States Chamber of Commerce in Argentina.  (Photo: Gustavo Amarelle/Telam).

In his presentation to American businessmen, the Minister of Economy Martin Guzman again argued in favor of “build common sense”. In the middle of the internal, the official asked that the public debate be “constructive” and assured that Alberto Fernandez proposes a path that “does Argentina good.”

Regarding the internal one that has him at the center of the questions of hard Kirchnerism, the head of the Palacio de Hacienda considered: “It is important to build more stability and that the public discussion what is happening constructive. There are issues that are already clear They haven’t worked on one side or the other.”.

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And he added: “With all the strength and conviction We are going to continue advancing in what we have proposed from the macroeconomic and productive point of view. This is what the President proposes because we believe that this is a path that is good for Argentina. What Alberto Fernández proposes today is a path that implies connecting the short term with the medium term and build the future of Argentina”.

Economy Minister Martín Guzmán spoke with the president of JP Morgan for Argentina and the Southern Cone, Facundo Gómez Minujin, at the third edition of the AmCham Summit, a meeting of the United States Chamber of Commerce in Argentina. (Photo: Gustavo Amarelle/Telam).

“On all political fronts there will always be differences. There are spaces where the country needs to reach certain consensus. The sustainability of public debts external is a necessary condition for any process of economic and social development, who governs who governs, and must be State policy. The fiscal sustainability it is also an asset, whatever you think the role of the state should be; science, technology and education must be State policy”, she maintained.

The Minister of Economy was interviewed by the president of the JP Morgan bank for Argentina and the Southern Cone, Facundo Gomez Minujin, as part of the third edition of the AmCham Summit, a meeting of the United States Chamber of Commerce in Argentina. Earlier, the US ambassador to Argentina spoke, Mark Stanleyand the Argentine ambassador to the United States, Jorge Arguello.

Goals with the IMF: “Seeing is believing”

Regarding the goals agreed with the IMF, Guzmán stressed the importance of reduce the fiscal deficit and monetary financing while accumulate reserves and maintains positive interest rates in local currency to encourage demand for savings instruments in pesos.

“There are no stories here: to see is to believe. And to see, you have to do it,” said Guzmán, who preferred not to make “grandiose announcements” that are later not fulfilled. On the contrary, he stated: “We are doing”.

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Waiting for the publication of the inflation data for April and while a sector of hard-line Kirchnerism presses to advance the rise in the minimum, vital and mobile salary, Guzmán defended income and price policies to coordinate expectations.

However, he acknowledged that, for them to be effective, “everything else has to work” and mentioned that there must be a consistent macroeconomic program, with a reserve accumulation policy that goes towards establishing a fiscal and monetary order.

The Argentine ambassador to the United States thanked the support of the White House

Before the dialogue between Martin Guzman Y Facundo Gomez Minujinexposed the ambassadors of the United States in Argentina, Marc Stanley, and the Argentine ambassador in the United States, Jorge Arguellowho defended the management of Albert Fernandez.

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“It was assumed in the midst of the crisis, that is why we should not be dogmatic. Pretending to apply responses or policies that turned out to be efficient in other times does not necessarily mean that they will be efficient at this time. Hence the need to be realistic and find the best solutions for this moment,” said Argüello, in line with what Guzmán said later.

“Who can argue with any methodological rigor that the goal of gradually reducing the level of monetary issue is misguided? Especially in the context of an economy overwhelmed by the inflationa situation that is also added by the negative price shock of the food and energy that the war in Ukraine is producing”, he questioned.

The Argentine ambassador to the United States, Jorge Argüello, spoke at the third edition of the AmCham Summit, a meeting of the United States Chamber of Commerce in Argentina.  (Photo: Gustavo Amarelle/Telam).
The Argentine ambassador to the United States, Jorge Argüello, spoke at the third edition of the AmCham Summit, a meeting of the United States Chamber of Commerce in Argentina. (Photo: Gustavo Amarelle/Telam).

He added: “Who could argue against gradually reduce the fiscal imbalance? Who could question the objective of increasing international reserves in a context of strong balance of payment restrictions for Argentina?

The Argentine ambassador stressed that the goals of the agreement with the IMF are “the goals of the Argentine government,” which has a clear course “that is based on real policies, not illusory ones,” and praised the positions of Alberto Fernández and the United States government. United to reach that understanding.

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“For the agreement to close, the firmness of the president was decisive, even in the face of criticism from some sectors of the government alliance. And the realism and pragmatism put in place by the White House in the face of different positions that questioned: some from Wall Street sectors; others, of dogmatic sectors of the coalition itself”, Argüello slipped in full official internal.

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