Overview
- After Buenos Aires lawmakers authorized up to USD 3.685 billion in financing, the province still requires national approval for market access.
- Casa Rosada says it will endorse only operations that restructure existing liabilities to improve rates or extend maturities, not fresh borrowing that increases the debt stock.
- Economy Minister Luis Caputo points to the 2004 Fiscal Responsibility Law, arguing the province raised current spending above inflation, while Chief of Cabinet Manuel Adorni underscored that there is no new debt with a deficit.
- The Council of Mayo will propose a bill barring provinces with a primary deficit from seeking authorization for new borrowing except for rollovers or high credit‑risk cases.
- Governor Axel Kicillof insists the request covers upcoming maturities and decries a double standard given approvals for CABA, Córdoba and Santa Fe, as tensions grow and provincial officials warn that refusal could risk default.