Guzmán on the agreement: It will give a platform to take off when the pandemic gives us a truce

LIVE | Martín Guzmán press conference on the debt restructuring agreement

In a brief chronological overview of the various consequences the country faced since it entered the international loan market again in 2016, he assured that “social and economic indicators” were “in decline” because, in part, there was “an unsustainable external debt situation” caused by “a record loan with the IMF”.

Against this background, the official stressed that one of the objectives of the Alberto Fernández government with the debt was “to remove suffocation from the public sector” and “protect the most vulnerable sectors of the population.”

“When we took office, we set ourselves the objective of generating conditions of normality in the Argentine macroeconomy, which was in a situation of extreme anxiety. The country had been going through a very deep drop in the level of activity, “stressed the minister.

For this reason, he pointed out that “it was necessary to solve this problem in order to generate predictability conditions for the private sector” although with the premise of following a strategy that would lead to an “orderly and quickest possible conclusion and that would leave the country on the right foot” .

Likewise, Minister Guzmán appreciated the support of various political and business sectors, such as the National Congress, municipalities, governments, industrial and business representatives who showed their support for the Argentine proposal.

“We persisted in the context of negotiations that were tough because all the parties defended the interests at all costs”, indicated and added: “We defended the interests of the Argentines.”

Despite the good reception by the population and the congratulations of a wide range of specialists, Guzmán asked to continue calmly: “Within what is good news, caution must be maintained.”

“This was not finished, but it is a decisive step, but it gives us an advantageous situation to end this situation in an orderly manner,” he added, reiterating that the agreement represents “a relief that will help Argentina” by generating “conditions of consolidation of public finances and predictability for the private sector “.

“This does not solve all the problems of the Argentine economy and we must continue working”, expressed the president before pointing to the future on what was announced this Tuesday morning: “It will give us a platform to take off when the pandemic gives us a break.”

In any case, the head of the economy recalled that “the restructuring process remains open” until August 24, the date on which “a very high participation” of the minor creditors is expected.

“We try to have the widest possible participation and to have the most consensual agreement possible among all”, advancement.

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