Overview
- The Executive formalized the measure in Decree 584/2026, signed by President Javier Milei, Economy Minister Luis Caputo and Chief of Cabinet Diego Santilli, which authorizes an advance of up to ARS 400,000 million for the province.
- The advance was requested by Córdoba’s administration to cover temporary cash shortfalls, urgent budget commitments and debt amortization, and the Treasury will determine the actual disbursement based on Córdoba’s capacity to repay.
- The loan will carry a fixed nominal annual interest rate of 15% from disbursement until repayment and must be repaid within fiscal year 2026 through automatic retentions on Córdoba’s share of nationally collected taxes.
- With Córdoba’s inclusion the program now covers roughly 15–16 jurisdictions that used the same Article 124 authority in Law 11.672 earlier in 2026, reflecting a standardized federal mechanism for temporary provincial liquidity support.
- Political coverage notes the timing of the approval during active negotiations between the national government and provincial leaders, and the wider use of advances follows a sharp drop in discretionary transfers and weaker tax receipts that have strained provincial finances.