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Argentina’s Guzman Says IMF Reputation Would Suffer On No Deal

ARGENTINA
  • In Argentina, the Minister of Economy, Martin Guzman, said yesterday that “the IMF will have less legitimacy in the future if it pushes Argentina into a destabilizing situation”.
    • The Fund is asking for a faster fiscal consolidation than Argentina is willing to do according to Guzman. Faster adjustment would cut short Argentina’s economic recovery and would limit investment in public infrastructure.
    • He added that negotiations “are a little better than a week ago, but there is an important way to go”.
  • Interestingly, Argentine Senator Humberto Schiavoni, head of the opposition bloc PRO, says the government cancelled a meeting between opposition leaders and Economy Minister Guzman to discuss negotiations with the International Monetary Fund.
    • Schiavoni said in tweets Monday that the meeting was cancelled less than 24 hours before it was supposed to happen exclaiming, “They’re not interested in anyone’s views.”
    • The opposition coalition “said we were going to support a reasonable deal, but we still haven’t seen it.”
  • For reference: Foreign Affairs Minister Cafiero meets this afternoon with the U.S. Secretary of State, Antony Blinken, and later with the Speaker of the House of Representatives, Nancy Pelosi.
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