Guzmán proposed changes for the IMF and called for increased public investment in Argentina

Martín Guzmán published jointly with Joseph Stiglitz a proposal to reform the functioning of the International Monetary Fund (IMF), with changes aimed at its assistance programs. The proposal includes reviewing conditionality criteria, incorporating alternative scenarios for possible contingencies and considering democratic preservation.

The former minister also argued that agreements with the organization should have broader political backing, so their continuity does not depend exclusively on the government that signs them. The article was published in Project Syndicate, an international analysis platform.

In a radio interview, Guzmán considered it correct that Javier Milei placed inflation reduction as a priority upon taking office, although he questioned the manner in which austerity was applied. According to his assessment, lower inflation coexisted with a decline in urban activity, incomes and credit, as well as an increase in delinquency.

The former official noted that growth is concentrated in agriculture, mining, energy and the financial sector, segments that—in his view—do not generate sufficient urban employment. He also warned that weak activity reduces tax collection and complicates the continuation of fiscal surplus.

To reactivate the economy and improve productivity, Guzmán proposed increasing public capital investment by between half and one percentage point of gross domestic product, but without expanding the deficit. To achieve this, he considered it necessary to review the tax structure and questioned the cuts applied to state investment.

Additionally, he criticized the tax benefits of the Regime for Incentivizing Large Investments (RIGI). In his view, part of the projects covered would have materialized anyway due to their high productivity and does not generate a significant effect on the rest of the economy without an industrialization program.