Martín Guzmán has not arrived in Paris and a key negotiation remains in the air

Former Economy Minister Martín Guzmán he was left without his negotiations with the Paris Club to obtain a serious reduction of the Argentine debt . Everything was scheduled to arrive in the French capital on Tuesday and negotiate with the Parisian club, but he resigned on Twitter, just as Cristina Kirchner attacked him and president Alberto Fernández at an event in his city of Ensenada.

Guzman and Bruno Le Maire, French Minister of Economy, They had managed to build an excellent personal and professional relationship. I helped him in the connection with the Paris club, a body without its own offices, which operates in the monumental building of the French Ministry of Economy in Bercy, on the Seine. There, Argentina’s big debtors would meet: Germany, Japan, the United States, among others, with Guzmán on Tuesday. They were about to lower astronomical interest rates on the debt Argentina holds with the Club from the years of the military dictatorship and which was renegotiated by Alex Kiciloff as minister.

The Paris Club is made up of practically the same members from the same countries as the Fund. Guzmán had done a very important job, not only in Argentina, but also abroad. He went to different countries creating bonds because he truly believed it was essential to his goal of him.

“In what Martín had advanced a lot was also the renegotiation and the work on a restructuring of an unsustainable debtlower amounts, different with the Parisian club, “said a source close to the minister.

Then Guzman he would meet French and German businessmen to discuss oil and food issues . An interview with Clarin was scheduled at the end of the tour.

But when Ambassador Leonardo Costantino had prepared his guest room in shades of green in the residence on Avenue Fosch, where former minister Guzmán normally stayed, very discreethis explosive resignation set off the next visit.

It all started on Thursday when Guzmán contacted President Alberto Fernández with a series of requests. He had to control energy, implement tariff segmentation and refused to freeze prices in the face of the crisis. The president listened to him and the minister told him “There wasn’t much more time”. She had already written her long letter before. A long chewed ending, discussed with his conscience.

When he did not hear any resolution, Guzmán grasped what is happening and on Saturday he interrupted the country’s day of the Head of State. He explained and sent him his resignation letter. President Alberto Fernández insisted that he stay. But Minister Guzmán was tired of the tug-of-war with the Kirchners, of not being able to hold up, of Cristina’s accusations. There was no way to convince him.

He spent Sunday in solitary confinement writing his inheritance to the next finance minister, the 30-month agreements with the IMF and the Parisian club, his commitments and making himself available for whatever he needs and is within his reach.

Martin Guzman will remain to live in Argentina. According to those who know him, he was about to become a mathematician and decided to switch to economics because his dream was to become a minister. He obtained it after completing his postgraduate studies at Brown University and Columbia under the guidance of Joseph Stiglitz.

Martín Guzmán has been working in front of his computer since yesterday. “He’s watching, talking to both the Paris club and the Fund. How to leave an armed scenario that gives greater clarity. And for who will come, ”said a source close to the now former minister.

In his letter it was clear. “He really hopes that Argentina will do well and that everyone who comes has the tools to manage the economy, which we haven’t been able to do recently. It’s not that we haven’t been able to do it all this time. But with Cristina contrary, you can’t “ the source said.

The battle of Cristina

Nothing is as it is told in this subtle fight between Cristina Kirchner against the IMF, against Guzmán and therefore against Alberto Fernández. But Guzmán was left in the middle of this fight. So were the steps.

“Up to the Monetary Fund, Cristina accompanied. Martín sat with her, with Alberto. He explained to both of them: “This is what we’re going to do.” There may be differences, but in general, what Martín wanted has been achieved. It was difficult, it was intense. But very important steps have been taken with private creditors. She was also sitting at the table in the ad. She accepted what was being done with the Fund, with the Paris Club, “the source recalled.

The former Guzmán official explained the method between him and Cristina. “In the beginning, before signing with the Fund, there was dialogue, until the last moment there was dialogue. I would tell you that a week ago was when it was cut, because he knew we were going to close and he definitely didn’t want to be a part of it. I think it was a conceptual question. “

The feeling of Guzmán and his team is that Cristina Kirchner and her son did not want to pay the political costs of an agreement in which they approved every point. It was evident that Cristina Kirchner took an ideological and electoral position. She didn’t want to be stuck with a deal that could lose next year’s elections or be burdened by such a San Benito.

“Because it was part of the whole conversation and he knew absolutely everything. She and the president – and Máximo, who pretended not to understand – knew absolutely everything. What did she take, how long? Martino everything happened to them, he explained everything to them. And then the misunderstandings arose “ explained the source, who was on the side of the negotiations.

It was impossible to manage

This was said by a source close to the minister Clarione these hours after resignation. “The truth is that it’s the feeling of frustration, but also of tranquility at some point, because it’s not about leaving. Upside down. The truth is that Martín was very clear that he wanted to continue helping Argentina. Yes, he continues to do things, to manage. But he had become impossible to manage. The reality is that. It was all complex a while ago, ”he confessed.

The slightest gesture has become impossible. “Releasing a segmentation form, with which no one was against. Those who were against it were only against it because Guzmán promoted it. Surely it is a policy that could come up and that has been tried many times during the government. In those 12 years they tried a lot and they didn’t even succeed. And the reality is that it was unsustainable, “he explained.

This impossibility of management became technically unsustainable for Guzmán and his team of loyal officials … But the problem was Cristina Kirchner, because of her attitudes, because of double standards when it came to negotiating, agreeing and then not accepting publicly. what agreed.

“In personal terms he honestly didn’t care. Because there have been worse letters in every speech and clear attacks. But I don’t know to what extent the same, because she (Cristina) knew him too and one of the few people she got together with was him. And many, many times !! With which I think that at a certain point it became clear to me that … Or perhaps that was what bothered him, an official who works and belongs to Alberto “. acknowledged the source.

The IMF plan

Minister Guzmán and his team believe they have reached a beneficial agreement without adjustments, thanks to the bond he has managed to maintain with the director of the agency.

“A deal that could have been youit’s not one of management’s greatest achievements. If you look at the history of the Fund, there is no such agreement. The Fund itself said so too: there is no such agreement. They couldn’t put in anything that had to do with adjustments, nothing that had to do with retirement. And they tried. The fact is, Martin doesn’t count these things. Everyone and Martin worked tirelessly. Alberto tries to get her to say “well, let’s do it”. Martin all the same, no answer. And then, the letter from Máximo, that he said he had no idea. It is not true. They knew everything, “says the source. So they lied for an ideological reason?

I think it’s this Kirchner thing: “We have nothing to do with the Fund.” But the reality is that the alternative was adjustment. The alternative was what they should have been fighting against.

Guzman’s future

Neither slam nor abandonment of the president or the project. Martin Guzmán has not left the government “slam the door”, according to your description.

“He knowsand obviously made available. It’s not like he’s going away with a slam, it’s not Martin’s style at all. Dialogue with the president was also good when Martín raised the issue with him. Obviously Alberto didn’t want him to leave. Alberto appreciates Martín very much, despite the attacks and all the criticisms he supported him, because the work that Martín did is also very important. The image of Martín is closely linked to Alberto or to the image of or vice versa. But I think he appreciates it because he also knows that in addition to being the minister who restructured or negotiated three debts, to the three debts, he notes that he has given three solutions. Everything he grabbed, he was solving it. Now it was segmentation. But it seems that it bothers someone to have results. In this case, I think what bothers is that the results end up being Alberto’s, “the source said.

-How will Martín Guzmán’s relationship be with the Fund, with the Paris Club and with the government from now on?

-Martín had spoken with the president. He has had this idea for a while. Not that it occurred to him yesterday to write six pages. This idea has been coming to his mind for a while. But consistently, I would like to tell you that, taking into account that we had some difficult weeks from a financial point of view, he chose to wait for the race to pass, a race that he ended up being accepted. We ended up getting more than we went for. I hope so. In a truly heroic way, a complex week was reversed, or at least they predicted it would be like a default. There have been rumors of this kind coming from various sectors, not just the opposition. So what Martin wanted to do is wait, “the sources explained.

According to the official close to the former minister, “He softened some Central Bank measures because he believed that at some point they would go really bad. He worked them and changed things. But the reality is that what she basically needed was to manage her own voicemail. Because today energy is one of the central issues. If it weren’t for Martín, we wouldn’t have come here with the energies. The reality is that too. When he realized that Darío Martínez and the entire energy team weren’t doing what needed to be done, he took the reins. He negotiated with Bolivia, they gave us the gas we asked for. He spoke with the Minister of Economy, with the Minister of Energy, he spoke to everyone. He negotiated it and when the president arrived they announced it with Alberto. After that he went to Brazil to get more energy. Note that Martin’s agenda changed after negotiations with the IMF. It’s energy, “the spokesperson explained.

News of Minister Martín Guzmán’s resignation reached Paris when Defense Minister Jorge Taina and Ambassador Leonardo Costantino had finished courtesy drinks on the Haussmanian semi-floor of the Argentine residence. a purchase of submarines, to replace the tragic San Juan, which exploded in the waters of the South Atlantic, which operates in France. But Martin Guzmán’s resignation was like a bombshell, drowning ministers in a quagmire of survival.