2023-12-28 22:00:00
Martin Guzmanthe former Minister of Economy of the government of Alberto Fernandezcriticized one of the aspects of the omnibus law that he sent Javier Miley yesterday to Congress and did not take long to receive the response from the former vice president of Banco Nación and the Central Bank during the government of Mauricio Macri, Lucas Llachat a junction that even ended with chicanes.
It is that one of the points of the omnibus law – which has more than 600 points – seeks to repeal a law of which Guzmán is the author, in order to issue bonds in foreign currency above what is allowed in the Budgetsomething requested by the now minister Luis Caputo.
Guzmán’s criticism of Milei
“President @JMilei, Wasn’t taking debt immoral?“Wrote Guzmán, and recalled that one of the points of the presidential campaign that Milei had carried out, when in mid-last September and before the general elections, he posted on the social network X: “Public debt is immoral. It implies that the public spending party is financed (sic) by generations that not only have not voted but have not been born. Thus, the current generation steals the income of future generations. Therefore, a government that goes into debt can never be liberal”.
The Government will seek to repeal the Guzmán law and the former minister warned of another mega-swap
Guzmán even warned of a possible new Mega-swap, even mentioning the man himself. Federico Sturzenegger: “If you don’t want to increase the debt, why would you open the door so that external public debt does not have to go through Congress, and that public debt restructuring increases the debt instead of reducing it, just as with Sturzenegger’s Megancanje in the year 2001? Are you aware that you are opening the door to new historic looting of taxpayers through public debt management? This is what your Omnibus law does at the level of debt.”
On the other hand, he emphasized the point of the “Guzmán law” that requires the taking of debt to go through Congress: “The Omnibus law also seeks to modify Article 1 of the Law to Strengthen the Sustainability of Public Debt, approved by almost unanimity of both chambers of the National Congress in the year 2021, which requires that indebtedness in the form of public securities in foreign currency under foreign law must be authorized by the National Congress. The purpose of this Law is that it can never once more happen that a government in power brutally increases the external debt with private creditors or the IMF, with consequences for several generations, as happened in 2016-2019.“. And he concluded, enrapturing the President: “Milei, your law would make it possible once more“.
The crossing with Lucas Llach
To this post on his X account, Llach responded: “The hyperinflationary Guzmán would refuse to buy a bond that pays $100 face value in one year with a bond that pays $101 in ten years. That explains a lot of things“.
Guzmán did not remain without answering him and also began with a chicane: “What are you doing? Are you still hunting guanacos?“, alluding to an article that he also attached in his response, titled Unusual: the former macrista official who hunts guanacos who now advocates for animals on banknotes.
Vidal and Tenembaum sparked off over Javier Milei’s DNU: “What would you say if CFK had signed it?”
“In fact, I would agree with that operation, as long as it does not increase the interest rate on the debt. And the current law allows it. But The important thing is not that I agree, but that the National Congress agrees.“added the former minister.
And he continued with a new criticism of Llach’s management during Macri’s years of debt: “Ps. How stupid to talk regarding inflation, you who were part of raffle off the country’s credit between 2016 and 2018, which meant that during the pandemic we were one of the few countries in the world that did not have credit to face it and we had to resort to the (inflationary) monetary issue so that there would not be a major crisis of employment and income…“
To finish, Llach wanted to have the last word and retorted: “Hello hyperinflationary! Congratulations on breaking the record for a ‘successful restructuring’ which left the country risk at 2500. Did you check the background to see if it was a world record in all of history? In the restructurings of Philip 2 in the 16th century it may have happened but I am not sure because he returned to the markets several times.”
JD / Gi
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#Tense #crossover #networks #Martín #Guzmán #Lucas #Llach
