In the midst of negotiations between the Government and the International Monetary Fund (IMF), the economist Juan Carlos de Pablo strongly questioned an opinion column written by his colleague and Nobel Prize winner Joseph Stiglitz, whom he described as “a cheek” for having considered last year’s Argentine recovery as “a miracle”.
“He is a cheek, and I say it like that. I don’t fight with almost anyone, I never have a personal discussion for reasons that have to do with a difference of opinion, but in this case, yes. He’s cheeky,” he said during an interview with journalist Joaquín Morales Solá in TN.
The specialist, author of several books on inflation, remarked that what Stiglitz did was highlight “that in 2021 Argentina’s GDP increased twice that of the United States, but he forgot to say that in 2020 it fell twice as much. than theirs.”
“This guy is in the shit. Do you know what the aggregate is? That no one gives him ball. The only ones who give Mr. Stiglitz ball are the Argentines and the Pope, who has him in a pontifical commission “, critical.
In this sense, De Pablo clarified that “a Nobel Prize winner can say bullshit” and pointed out that this is the case with his American colleague because “He completely ignores that in addition to failures in the market there may also be failures in the State, and that is why he is irresponsible.”
In another section of the interview, he opined that “President Alberto Fernández made the same mistake as Mauricio Macri, which is not having a Minister of Economy”; because, in his opinion, “Martín Guzmán has the position, but nobody fulfills that function.”
“There is no team here. What there is here is a group of paralyzed officials, a Central Bank acting as a firefighter and a Secretary of Domestic Trade doing the things we already know”, he analyzed.
On the other hand, the economist referred to the conversations with the IMF and assured that “the real negotiation is a reserved secret, so what is happening today between Argentina and the Monetary Fund nobody knows.”
“The suspicion I have is that in this negotiation, if it exists, and hopefully we get a pleasant suspicion and an agreement is announced, it is that nobody is in a hurry. We are in the middle of the desert and the caramañola is empty. So the question is what else can happen to us?
In this regard, he explained that “in the private sector, we Argentines are to honor our debts, because companies make a huge sacrifice and pay, the same happens with rates, but in public it is not the same”.
Likewise, he stressed that “it is not that the country is in a normal situation and that if it does not settle with the Fund it does not know where it is going, but that it is in a very peculiar situation and it is most likely that it will not settle with the Fund until March”.
“The default with the Fund is different from that with a (holder of) title, because that one has a paper that says ‘some day he will pay me’. With international organizations things work in a different way”, he stressed.
In addition, he specified that “anyone realizes that the political component of the 2018 agreement was huge, and that is why the IMF bureaucracy wants to eat us raw”, while its director, Kristalina Georgieva, “he is juggling”.
“Under the current conditions, there is no possibility that Argentina honors the 44 billion dollars (it owes). So, anything can be raised and Mr. (Economy Minister) Martín Guzmán says that we will not have fiscal balance until 2028. What he means is that we will never have it, “he predicted.