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Government Offers Debt Guarantees as Santilli Builds Support for 2026 Budget

Debt guarantees to provinces signal a bid to secure votes for the 2026 budget.

Overview

  • Santilli has met more than half of the governors and plans to complete the round next week as the budget heads to extraordinary sessions.
  • The first concrete step came with a national counter-guarantee for a US$75 million loan for Mendoza’s water works, with officials indicating similar backing so provinces can finance infrastructure.
  • Talks with governors center on transfers, provincial debts, coparticipation, fuel-tax shares, ATN and stalled public works, with Neuquén’s Rolando Figueroa calling the dialogue productive.
  • A rectifying decree is expected to return Renaper to the Interior Ministry, while Migraciones will stay under Security, and the government is weighing a parliamentary secretariat to bolster Santilli’s congressional role.
  • Officials say the first post-budget bill will target labor “modernization,” and Economy Minister Luis Caputo has tempered expectations for immediate tax changes.