Tag: Martin Guzman

The United States Treasury backed Argentina’s renegotiation with the IMF
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The United States Treasury backed Argentina’s renegotiation with the IMF

The Minister of Economy, Martin Guzman, received the endorsement of the United States Treasury facing the negotiations that Argentina is carrying out with the International Monetary Fund (IMF) to reach a new debt financing program for 44,000 million dollars contracted in 2018, during the administration of Mauricio Macri.This was reported by the US Treasury, who this Wednesday indicated -through an official statement- that the body's undersecretary, Wally Adeyemo, had maintained contact with Guzmán to “review the meetings of Argentina with the Paris Club, with bilateral creditors and the pending negotiation for a new program with the IMF ”.According to the Treasury statement, Adeyemo told the minister that "a solid framework of economic policy for Argentina that provides a perspective for t...
Matías Kulfas and Martín Guzmán spoke about investments with the Minister of Industry of Spain
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Matías Kulfas and Martín Guzmán spoke about investments with the Minister of Industry of Spain

The Ministers of Productive Development, Matias Kulfas, and Economy, Martin Guzman, spoke today with their counterpart of Industry, Commerce and Tourism of Spain, Reyes Maroto, on the commercial links between both countries and the investment areas that can be developed in Argentina.The meeting took place after the meeting held this morning by the President Alberto Fernandez and his pair from Spain, Pedro Sanchez, with businessmen from both countries, at the Bicentennial Museum."We are going to advance in a cooperation and investment agenda, centered on innovation and digitization to deepen the development of the productive sector," said Kulfas, after the meeting.For his part, Guzmán highlighted the "support and accompaniment of Spain in reg...
The meeting of Guzmán and Kicillof
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The meeting of Guzmán and Kicillof

The governor of the province of Buenos Aires, Axel Kicillof, and the Minister of Economy, Martin Guzman, held an extensive dialogue on Tuesday about the structural problems that limit development and economic recovery. The work meeting between the two economists took place at the Palacio de Hacienda, where they shared lunch and a long exchange on macroeconomic issues and other key points that are common to the economic agendas of both: tariffs, foreign debt, prices and foreign trade. among others. "The Province of Buenos Aires is a productive heart of our Argentina, where the highest population density is concentrated and where we suffer a significant deficit in terms of infrastructure and housing that limits its development potential", summarized the Minister Guzmán, in hours of the nigh...
Today, US $ 2.4 billion is due against the Paris Club and the countdown begins
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Today, US $ 2.4 billion is due against the Paris Club and the countdown begins

The Argentine government today reached the last scheduled date with the Parías Club for the payment of some US $ 2.4 billion, which it will need to renegotiate again. The contract itself with this consortium of creditor nations provides an additional period of 60 days to avoid a default.The Casa Rosada hopes that after weeks of weaving support from European leaders, the technical work with the officials of the International Monetary Fund will pave the way for the Club to make public a minute so that the non-cancellation of the debt is not considered by that forum as a default of payments.For a readjustment of the terms of the agreement signed in 2014, Infobae.com explained, the Paris Club will ask, as practically since its foundation, that ...
Two-way
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Two-way

If the objective of the mission led by President Alberto Fernández to Europe, in its economic aspect (the main part of the trip), was to channel negotiations with the IMF and the Paris Club, it can be said that results were achieved on both fronts. Argentina may announce in the next few days that there was an agreement with the Paris Club to postpone the payment due on May 31 for at least a couple of months, and at a not too distant date the Fund will make the decision not to charge surcharges to the debtor countries that failed to comply with the original agreed deadlines for payment, at least as long as the global pandemic situation continues. These are two steps in favor with which Argentina not only gains time for negotiation, but is also generating an alliance and consensus around t...
Alberto Fernández highlighted Guzmán’s work in the debt renegotiation with the IMF
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Alberto Fernández highlighted Guzmán’s work in the debt renegotiation with the IMF

President, Alberto Fernandez, highlighted today in Portugal, where he began a tour of four countries, the task of the Minister of Economy of the Nation, Martin Guzman, during the renegotiation of the debt before the International Monetary Fund (IMF)."He did a spectacular job," said the president to part of the entourage that accompanies him.Last April, the Minister of Economy made a tour of Germany, Italy, France, Spain and Russia; and met with the president of the Paris Club and director general of the French Treasury, Emmanuel Moulin, for that matter.In addition, Fernández ended the discussion attributed to Guzmán and the undersecretary of Electric Energy, Federico Basualdo, for the recomposition of rates, according to what the President ...
How tensions are resolved in the Front of All
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How tensions are resolved in the Front of All

The Aerolineas Argentinas charter flight that transferred Alberto Fernandez Y Martin Guzman bound for Europe, to advance in the renegotiation of the debt, he left behind a week marked by the worst internal conflict that the Frente de Todos had since the beginning of the administration. The round Guzmán-Basualdo exposed the tensions that exist within the coalition on specific issues such as the unfreezing of tariffs, the implementation of a new IFE or the destination of the funds that will arrive from the IMF. It also sparked debates about how government decisions are defined and processed. Since The field they emphasize that it is a debt of space not to have generated an internal table that synthesizes positions as a whole. On Pink House They respond that they are open to listening to p...
"We have an energy subsidy system that is pro-rich"
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"We have an energy subsidy system that is pro-rich"

The Minister of Economy, Martín Guzmán, referred to the current system of subsidies to the energy system and asked self-criticism for a scheme that he defined as "pro-rich".Guzmán spoke in the framework of the announcements made this Friday by President Alberto Fernández in terms of social assistance. “We too must be self-critical. Today we have an energy subsidy system that is pro-rich. In a country with 57 percent child poverty, we are spending to subsidize the consumption of electricity and gas in a part of the population that today is not a priority to receive these subsidies, neighborhoods where high-income people live ”, said the head of the Palacio de Hacienda.“These resources have to be used for what the Argentine society needs most today. Our commitment is to be able to streaml...
Eliminate withholdings for exports of 3,400 micro, small or medium-sized companies
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Eliminate withholdings for exports of 3,400 micro, small or medium-sized companies

The Ministry of Productive Development announced today the elimination of retentions to some 3,400 industrial and agroindustrial micro, small or medium enterprises (MSMEs) that export up to US $ 500,000, while from that amount to up to one million dollars, a reduction of the 50%, published Télam.The measure was presented today by the Ministers of Productive Development, Matias Kulfas; and of Economy, Martin Guzman; in a visit to the graphic company Zanniello, in the Industrial Park of the Buenos Aires province of Pilar, where they highlighted that the measure will include a total of 6,153 tariff positions considered to have higher added value.It is estimated that some 3,790 companies will benefit from a reduction in the rate, while another...
Kicillof defined Basualdo as "an excellent official “
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Kicillof defined Basualdo as "an excellent official “

Axel Kicillof the Buenos Aires management of the covid-19 pandemic ran for a few minutes and made clear his opinion of the Undersecretary of Energy Federico Basualdo, to whom Martín Guzmán asked to resign (although he remains in his position) for not having worked on the segmented tariff thaw that Guzmán believes is necessary to lower inflation. "He is an excellent official," he said. the Buenos Aires governor.The Governor of Buenos Aires, on the one hand, stated that there should be no further increases in electricity rates Unlike what Martín Guzmán seeks to promote Y, for another, He defended the Undersecretary of Energy, Federico Basualdo, the official that the Minister of Economy asked to be removed from his position for interfering with his policy.“Federico Basualdo was a civil servan...