Argentina economy minister urges G20 to extend swaplines, avoid 'social meltdown' over coronavirus
Martin Guzman, who spoke to fellow leaders on a G20 call regarding the epidemic, said in a statement countries should use the “entire toolkit” of economic policies, including the extension of bilateral swaps to aid those nations most in need.
“It is of utmost importance that we deepen global coordination and cooperation efforts as much as possible in order to preserve global social stability,” Guzman said in the remarks.
The minister also called for domestic measures ranging from cash transfers to subsidies for affected sectors and extending unemployment insurance, according to a statement of his comments.
The coronavirus outbreak catches Argentina, a top global grains producer, in crisis as it scrambles to sort a plan to repay its debts to the International Monetary Fund and battles ballooning inflation and poverty at home.