Thread by @ACLatAm

Beyond Argentina’s debt deadline: A conversation with Economy Minister @Martin_M_Guzman #ACArgentina

https://twitter.com/jmarczak/status/1288927359345688576

“We made a massive effort, which shows our full commitment to a consensual deal,” said Argentine Minister of @Economia_Ar @Martin_M_Guzman on recent debt negotiations. "Initially, there was a positive reception to the offer we made." @ACGlobalEcon @ARGinUSA #ACArgentina

“There were a number of aspects within the negotiations, including economic and legal aspects,” said @Martin_M_Guzman. "Economically, there has been a massive effort on Argentina's side. We don't want to promise something we can't fulfill." @ACGlobalEcon @ARGinUSA #ACArgentina

On the legal side of the negotiation, “If the international community endorses legal innovations, Argentina will adopt those,” said @Martin_M_Guzman. @ACGlobalEcon @ARGinUSA #ACArgentina

"For achieving macroeconomic stability, resolving the debt crisis is a necessary condition," said @Martin_M_Guzman. "And I mean resolving the crisis. The sooner we can reach a deal, the better, but we want the deal to be sustainable." @ACGlobalEcon @ARGinUSA #ACArgentina

"Our view is that the post #COVID19 economic performance will depend to a significant extent on how we handle the pandemic. We adopted measures to protect vulnerable sectors of society, under tight fiscal conditions," said @Martin_M_Guzman. @ACGlobalEcon @ARGinUSA #ACArgentina

"We have been working since we took office on reconstructing the investment environment and developing the domestic capital markets,” said @Martin_M_Guzman. "Macroeconomic consistency is a basic tenet of economic management, so we also laid out policies to build consistency."

“Argentina has a number of problems at the social and economic level,” said @Martin_M_Guzman. "We are working toward a system of production that is inclusive, that creates jobs, that is dynamic, and that is stable." @ACGlobalEcon @ARGinUSA #ACArgentina

"Sectors such as energy, infrastructure, science, and the creation of knowledge - these are areas where the state plays a significant role in supporting private sector investment," said @Martin_M_Guzman. @ACGlobalEcon @ARGinUSA #ACArgentina

"Argentina has very tight capital controls, and this is not meant to be a permanent measure. In order alleviate capital controls, we need to accumulate foreign reserves, but that is a process. It is not something that can be done from one day to another." -@Martin_M_Guzman

With 88 countries projected to default amid #COVID19, "it will be very important to see respect and collaboration between creditors and debtors," as well as engagement with international institutions like @IMFNews, said @Martin_M_Guzman. @ACGlobalEcon @ARGinUSA #ACArgentina