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Argentina spoke out for a better world financial architecture

Buenos Aires, Oct 14 (Prensa Latina) Argentina's Minister of Economy Martin Guzman spoke out today in favor of the need to advance towards a better international financial architecture at the G20 Summit of Finance Ministers and Central Bank Presidents.

On speaking at the Washington-headquartered event, the Minister insisted on improving global public goods to address the most difficult challenges of these times, such as the equitable recovery of countries after Covid-19, inequality and the problem of climate change.

Inequality is an ethical issue because it is up to people to change the rules that led to the current situation, Guzman assured adding that such scourge damages the functioning of the economic, social and political system. The minister also referred to the process of restructuring his country’s debt pending with the International Monetary Fund (IMF) and insisted on a better global system to solve unsustainable debt crises.

Therefore, he attached importance to moving towards a better financial architecture to address all those challenges.

In his presentation, Guzman also stressed the importance of a better financing system for development, and expressed Argentina’s support for the creation of the Resilience and Sustainability Fund within the framework of the IMF, to provide long-term financing to middle and low-income countries.


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