The Nobel laureate, a frequent critic of the International Monetary Fund, said he didn’t make a reference to Argentina’s inflation problem in the article because he was limited on space and wanted to focus on the real economy.
Argentina is facing a crucial moment in its negotiations with the IMF to reschedule payments on about $40 billion from a loan given to Macri’s government in 2018 that failed to lift the country out of recession.
Stiglitz said he was worried about the credibility of the U.S. Treasury as part of Argentina’s talks with the fund and expected the Biden administration to do more to support the country.
He also said he didn’t see it necessary to mention in the op-ed his friendship with Economy Minister Martin Guzman, whom he mentored for years at Columbia and is now in charge of the negotiations from the Argentine side.
“It’s not like it’s a secret -- I’m not going to disclose every friendship I have,” Stiglitz said. “It would take up the whole article.”
This article was provided by Bloomberg News.