"Not paying implied adjustment, fall in production and employment"

“Not paying implied adjustment, fall in production and employment”

Guzman: “Now, the next step is the approval of the IMF board. We look forward to multilateral support.”

The Minister of Economy, Martín Guzmán, highlighted early this Friday the approval in the Senate of the agreement with the International Monetary Fund (IMF) to restructure the debt contracted by the previous government, and assured that “not paying implied adjustment, fall in production and employment.

“Our responsibility was to give peace of mind and certainty of direction”, Guzmán said on his Twitter social network account, while underlining: “We achieved a radically different agreement from all those that have historically been with the IMF. There is no removal of rights for workers or retirees.

He also indicated that “investment in infrastructure and knowledge is expanding,” and stressed that it was possible to “put the interests of the real economy ahead”.

The minister stressed that “Congress sanctioned with force of law the agreement of the National Government with the IMF that will allow the country to refinance the record debt of 2018, avoiding destabilizing the economy.”

I consider that “the result and the process are a firm step forward in the development of the Republic”and pointed out that “whatever hurts, the reality is that the IMF has been in Argentina since 2018 by decision of the previous government.”

And he highlighted that “in just over a year he added a debt of US $ 44,500 million on the backs of the people.”

“Heavy and a lot. Our responsibility was to build a solution,” said Guzmán, who stressed that “without an agreement it was impossible to pay,” and remarked that “not paying meant that there was no financing in Argentina.”

He also assured that not closing an agreement with the IMF “implied a fall in production, employment and destabilizing effects on the exchange rate”, and added that “it implied adjustment”.

He also assessed that “in this context of geopolitical conflicts that raise international inflation in food and energy, it is of particular importance to provide certainty instead of increasing uncertainty.”

“Never has an agreement with the IMF had federal social and political support of such magnitude”


“We worked for it and massive support was obtained. Never has an agreement with the IMF had federal social and political support of such magnitude”affirmed the head of the Palacio de Hacienda.

In this sense, he highlighted that “For the first time in history, it passed through Congress and achieved a level of adherence of 80%”and pointed out that “they also accompanied unions, the private sector, universities, social movements and civil society.”

“Now, the next step is the approval of the IMF board. We look forward to multilateral support. It will bring more stability to Argentina, Latin America and the world,” said Guzmán.



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