Alberto Fernández Says He Will Pay The Argentine Debt When The Country Grows

Buenos Aires, Nov 28 (EFE) .- The elected president of Argentina, Alberto Fernández, who will formally take office on December 10, said Thursday that his government will pay the 'delusional' public debt left by his predecessor, Mauricio Macri, but the day he that the country, in recession since April 2018, has managed to grow.

'We are going to pay the day we have grown, we have produced more and we have exported more and we have obtained the dollars with which we have to pay our debts. This is how it will be this time. And I'm not going to let myself be convinced by any siren song, because the siren songs left us at the bottom of the sea, 'said the Peronist leader at the annual conference of the Argentine Industrial Union (UIA), in Buenos Aires.

A HIGH DEBT

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According to data from the outgoing Government, Argentina accumulates a total public debt of 314,315 million dollars, of which almost 44,000 correspond to the loan of 56,300 million approved last year by the International Monetary Fund (IMF).

The new Peronist government will have to study how to pay that high indebtedness when they encounter future maturities that become difficult to assume.

Fernández, whose vice president will be the former head of state Cristina Fernández de Kirchner (2007-2015) reaffirmed, before a capacity of industrial entrepreneurs and other economic and social representatives, that she does not want to ask anyone to “take off” debt or stop paying Argentina owes, but I clarify that this time it will not be paid by those who have less, those who produce and those who employ.

'We are not going to let the external obligations, which are many, and that have been agreed in a delusional way, because they asked for a lot of money to pay very quickly, we are not going to let that reality be put to the industry, to work and generate more poverty and unemployment ', said the new president, who defeated Macri in the elections last October 27.

For those who were chief of the Cabinet of Ministers of the Executives of Cristina Fernández and her late husband, Néstor Kirchner (2003-2007), this 'terrible and ridiculous debt' was taken 'by a democratic government', in reference to that of Macri, but he added that 'the rest of the world' is not to blame for what the Argentines choose.

THE 'FINANCIAL SPECULATION'

In a document issued by the Chief of Staff of Macri, the current Executive said he had to borrow because he inherited a "huge deficit" and there were "many unpaid accounts of the previous government."

"Two out of every three dollars we took from debt were to improve the terms or conditions of debts of old debts or also to change creditors," added that text, released in early November.

But for Fernández, Macri's term was four years of 'financial speculation'.

"In the world of speculators, very few earn, those who speculate, and lose the best, those who risk and work, and that is the worst society," he said.

'Not even banks were favored, because banks stopped being banks, forced them to be something else. I want banks and bankers to work as bankers. That they take public savings and lend at reasonable rates money for someone to produce or someone to consume. You have to relive consumption, 'he said.

The president-elect said that it only remains to improve and ensure improvements for all, not for those who speculate, 'those who change pesos every day for dollars as appropriate and keep them until the next day they return to make another financial timba'.

'I want entrepreneurs who invest in machines, who build factories and give jobs. Those made Argentina great. Those made the country. And in the times we live, nobody can doubt the importance of the industry, 'he said.

A WORK IN JOINT

In this sense, Fernández, who defined the development of the industry and the generation of work as a 'state policy', recalled his plan to create an Economic and Social Council in which representatives from various sectors debate about the future of the country.

"What it is about is getting back on our feet and that we do it together, not by imposition of a president, not at the whips of a president, with everyone's certainty," he said.

In defending the development of the national industry and the complexities of today's world, the Peronist clarified that he does not intend to 'live behind closed doors' or 'stop imports'.

'But let everyone understand that I am not going to bring T-shirts from China, shoes from Brazil or bicycles from Korea so that our producers keep falling. I am not going to do it. We do not do it. And that is not a closed economy, that is to be intelligent, 'he emphasized.

'Calm down, the future that comes is a future without differences. We will not be more than one side and the other, we will be all together pulling the rope for the same side, 'he concluded. EFE

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