(Bloomberg) — Argentine Economy Minister Martin Guzman has backed the idea of a wealth tax on the country’s rich as the nation to fend off creditors and find money to help cope with the Covid-19 pandemic.

The tax would affect 11,000 people with fortunes of at least $2 million, Guzman said, without specifying where that cut-off point might come. He spoke in an interview with journalist Horacio Verbitsky, published on the website El Cohete a la Luna. President Alberto Fernandez, in a separate interview, spoke of the need for wealth redistribution.

Argentina lacks room for austerity or cutbacks and needs to reprogram its debt with the International Monetary Fund, Guzman said, as the country enters crunch negotiations with creditors. Argentina, which is due to

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