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Video: A Conversation with Argentine Minister of Finance Martín Guzmán

Tuesday, June 23, 2020

Speakers:

  • Martín Guzmán, Finance Minister of Argentina
  • Susan Segal, President and CEO, Americas Society/Council of the Americas

As part of AS/COA’s new Southern Cone Series, Susan Segal spoke with Martín Guzmán about the Alberto Fernández government’s plan for economic stability amid the pandemic. The minister detailed three principles guiding the government’s COVID-19 response, which were to protect Argentines’ health, those who fell into vulnerability, and the know-how of workers and firms. Guzmán also spoke about the ongoing negotiations with bondholders about debt restructuring. The legal terms proposed by the Ad Hoc group in particular “would basically entail that the progress that has been made over the last few years in terms of the contractual language would be undone,” said Guzmán. “That’s not something that Argentina can commit to.” He said that Argentina will adhere to the collective action clauses endorsed by the G-20 and International Monetary Fund, of which it is a member, adding, “Argentina is not seeking innovations at this moment, but only to resolve the crisis … in an orderly manner.” Guzmán also discussed the administration’s plans to negotiate a new program with the IMF, redefine rules for the country’s energy sector around sustainability, and reach fiscal equilibrium by 2023.