The resignation of the Minister of Finance, craftsman of the agreement with the monetary fund on the restructuring of the debt, arouses concern.
Economic turbulence in sight in Argentina, against a backdrop of political crisis. The surprise resignation this weekend of Argentina’s Finance Minister Martin Guzman, architect of the agreement last March with the IMF on debt restructuring, opens a period of uncertainty and instability. The 39-year-old economist, disciple of Joseph Stiglitz, was hailed for having avoided another default in Argentina on a record debt of 45 billion dollars, a legacy of a loan contracted in 2018 by the previous center-right government of Mauricio Macri.
After having received a first tranche of aid of 9.7 billion at the end of March, Buenos Aires has just received a new payment of 4 billion ten days ago. The multilateral institution, taking into account the difficult international situation, “has granted some derogations from the quantitative objectives backed by the agreement“, notes François Faure, country risk manager at BNP Paribas. At the time of signing, in March…
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