Stiglitz: Frente de Todos divisions made Guzmán’s work impossible

Economist and 2001 Nobel Prize for Economics winner Joseph Stiglitz believes that Martín Guzmán did a great job in resolving Argentina’s debt crisis while heading the Economy Ministry but that the divisions of the ruling Frente de Todos coalition made his work unsustainable.

"His deep principles made it impossible for him to continue in office without a commitment of the government to a united, integrated and coordinated approach to the enormous challenges facing the economy," Stiglitz said in comments reported by Reuters.

Guzmán, who resigned as economy minister last Saturday, worked as a researcher at the University of Columbia in a team led by the Nobel Prize winner.

Lacking government experience and with no political militancy when he joined the Cabinet of Alberto Fernández in late 2019, Guzmán rescheduled US$66 billion of debt with international bondholders and a further US$44.5 billion with the IMF during his 935 days as minister.

– TIMES/AFP