Martín Guzmán in front of American businessmen: “We must build common sense in Argentina”

The Minister of the Economy, Martín Guzmán, participated on Tuesday in the forum of the United States Chamber of Commerce in Argentina (Amcham), and in an important week for his administration -with hearings on tariffs, the April inflation data to know now, and the start of the first quarterly review of the program agreed with the IMF-, He called for the need to generate more consensus and achieve sustainable projects in the medium and long term. “We need to build common sense in Argentina,” he said.

“Now the focus is on common sense about what works and what doesn’t work,” The minister stressed in a face-to-face meeting with Facundo Gómez Minujin, president and senior country official of JP Morgan for Argentina, Uruguay, Paraguay and Bolivia, and on what he interprets as another response to the criticism he receives from Kirchnerism. “Beware of leaving a space of common sense, either on one side or the other”he said in front of the auditorium of the Alvear Icon hotel.

“Economics does not work in a vacuum, it works in the midst of a context of power relations, institutions, norms and laws. Economics is also a political science, so we must understand that the political and social situation is key to the performance of an economy because it has a direct impact on expectations. We are building the conditions to have more and more certainty in Argentina, ”he added.

And in that sense he taught: “We are seeking a constructive public debate, there are issues that do not work on one side or the other”. “We will therefore continue to move forward in the line we have proposed, and this is along the path that is good for Argentina,” Guzmán warned at the “Let’s Build a Sustainable Country” event organized by AmCham.

In the midst of the fierce internal debate that was at the center of the debate, and on Monday the official was more than willing to face, he defended the path outlined. “With all our strength and determination, we will continue to move forward what we propose from a macroeconomic and productive perspective. This is what the President proposed because we believe it is a good path for Argentina. What Alberto Fernández is proposing today is a path that suggests connecting the short term to the medium term and building the future of Argentina ”, he said.

At the end and after answering Minujin’s questions about inflation, wages, politics and the economy, the minister received loud applause from all those present, and American businessmen felt that a minister was ruining his seat and that if They want to get it, they have to “kick it.” One question remained in the air that the minister avoided answering: “Where will the other path take us?

Inflation

“To attack the problem of inflation, it is necessary to attack the many factors that make it up. This is done in the first place with an economic program that is consistent,” he said. “Doing things with a short -term focus that ends up creating a crisis is what we seek to avoid,” he assured Amcham entrepreneurs.

The minister also stressed the importance of “anchor of expectations” to lower the inflation rate: “Here there are no stories, it is seen to believe, and believe you have to do”, he pointed out.

economic program

“In addition to consistency, the economic program must be credible. So the Government places a lot of emphasis on our commitment to carry out the program we have drawn up,” he assured.

Economic recovery

“Argentina will grow 10.3% in 2021. It will grow in 2022,” he said. And he added: “It is important that this growth that we are experiencing occurs with the accumulation of reserves and that we look to 2023 with an economy with conditions on the outer facade to continue to sustain growth. “

Wages

Regarding the evolution of wages, he stressed that one of the goals of macroeconomics is to “recovery of purchasing power, with a productive profile consistent with economic growth projections.”

Investmentsthe

We see a situation where the economy continues to grow and investment continues to grow, but there is room for more.

Talking about investments, he stressed that Argentina is in a “historic” moment, faced with a great opportunity that must be taken advantage of, especially in the energy sector.

“With all our strength and conviction we will continue to move forward with what we have proposed from a macroeconomic and productive perspective. This is what the President proposed because we believe it is a good path for Argentina. What Alberto Fernández is proposing today is a path that suggests connecting the short term to the medium term and building Argentina’s future ”.

IMF objectives

“At the IMF in 2018 a problem developed, and what has been done so far has produced a solution,” he said. And he added: “Develop a solution with a process that means a step forward for Argentina.”

In this regard, he said: “The objectives of that agreement, we want to fulfill them for us, because this is what we consider to be what macroeconomy needs today to travel on a healthy path ”.

YN