The Argentine Minister of Economy, Martín Guzmán, one of the most questioned officials in Alberto Fernández’s cabinet, presented his resignation during the day this Saturdaybeing himself the one who made the announcement through a statement published on his Twitter account.
“With the deep conviction and confidence in my vision of the path that Argentina should follow, I will continue working and acting for a fairer, freer and more sovereign Homeland.”, stated on his social network who until today served as Secretary of State, basing his decision on a multi-page letter that he sent to the president of the trans-Andean nation.
The announcement by the minister, who held the position since the beginning of the government on December 10, 2019, comes towards the end of a difficult week for the Argentine economy, in which the dollar reached record highs and carriers staged protests over diesel shortages.
In the same context, her resignation also occurred while Vice President Cristina Fernandez de Kirchnerone of his main public questioners, offered a long-awaited and massive speech in the city of Ensenada, in the province of Buenos Aires, in which referred to economic issuesand represents another twist to the growing tension in the government between Alberto Fernández and the former president.
In his resignation, Guzmán expanded on the achievements of his administration and its many challenges, noting that his goal was to “calm down the economy” for Argentina so that the country would distribute “opportunities equitably” to all, something that inevitably happened. by “resolve the problem of unsustainable foreign debts, which burden both the State and Argentina as a whole“, he pointed.
The outgoing authority highlighted the historical process of restructuring the country’s public debt, and agreements with the International Monetary Fundin addition to many initiatives aimed at increasing employment and favoring the neediest classes in the context of a global pandemic and the war in Ukraine.
“Today the economy continues to grow and generate employment, having already passed the first review of that program and having managed to adapt it to the changing global circumstances in the context of the war in Ukraine,” said the former official.
During the week, Cristina Fernández criticized the “import festival” that had affected the valuation of the dollar. The shortage of the US currency and the restriction of imports caused on Tuesday that the currency will be quoted at a record level, on average of 239 pesos per unit in the informal market to which citizens and companies go before the restrictions of acquiring dollars by legal means, where it is quoted at 130 pesos per unit. For economists, this fact will have a direct impact on inflation.
Argentina has suffered for years from a problem of shortage of dollarswhich is due to several factors but which starts from the distrust of Argentines in their own currency following several inflationary crises in its history. Accumulated inflation in the neighboring country so far this year is close to 30% and according to these analysts it might close 2022 above 70%.
Finally, Guzmán had words for the Argentine president, of whom he highlighted “his respectful treatment, his warmth and leadership” and to whom he dedicated a “I have learned a lot from you, dear Alberto”, he maintained in the letter.
