Overview
- The provincial legislature passed the Financing Law after a session exceeding 14 hours, authorizing $3.685 billion that includes $1.99 billion for refinancing, $1.045 billion for public-sector operations, and funds for AUBASA and Buenos Aires Energía.
- Caputo states Buenos Aires is not complying because current spending is rising faster than inflation, so new debt should not be approved, citing earlier warnings from Treasury official Carlos Guberman.
- Governor Axel Kicillof defends the borrowing as a response to a provincial emergency and says the approval does not alter ongoing business closures, job losses, and declines in industry and construction.
- Kicillof accuses President Javier Milei of betting on chaos and on the province collapsing and pledges to press for what he says the province is owed from the national government.
- The governor adds that a large share of next year’s debt service originates from obligations contracted during María Eugenia Vidal’s administration.