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6d ago

Córdoba and Buenos Aires Advance Major Municipal Debt Relief Initiatives

Governors Martín Llaryora and Axel Kicillof unveil sweeping financial packages to support local governments, addressing pandemic-era fiscal challenges and building political alliances.

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Acuerdo Federal. El gobernador Martín Llaryora encabezó un acto con más de 400 intendentes en el Centro de Convenciones de Ferial. "Trabajamos para todos los cordobeses", aseguró. (Pedro Castillo)
Apuesta. El gobernador Martín Llaryora convocó a más de 400 intendentes del interior para lanzar un plan de asistencia. (Pedro Castillo / La Voz)
El intendente Gustavo Benedetti junto al gobernador Martín Llaryora y el ministro de Gobierno, Manuel Calvo. (La Voz)

Overview

  • Governor Martín Llaryora officially launched the Acuerdo Federal Cordobés, allocating ARS 112.881 billion to assist 426 municipalities with debt refinancing, infrastructure, and discretionary funds.
  • The Córdoba package includes refinancing ARS 13.131 billion in municipal debts over 120 CER-indexed installments, alongside a Permanent Fund for Works and ATP allocations.
  • In Buenos Aires, a legislative commission approved a bill to condone ARS 7.9 billion in municipal debts from the COVID-19 fund, with final votes in the full chamber and Senate expected soon.
  • The Buenos Aires initiative mandates 90-day reimbursements for previously paid debts and exempts municipal officials from sanctions under specific conditions.
  • Both financial relief measures serve as strategic tools for the governors to strengthen alliances with mayors across party lines ahead of upcoming elections.