Overview
- The national government said it will not authorize new borrowing for the Province of Buenos Aires but will allow refinancing that improves terms and extends maturities, citing the Fiscal Responsibility Law.
- Economy Minister Luis Caputo stressed the difference between new debt and rollover and assigned technical reviews to Treasury Secretary Carlos Guberman, while Buenos Aires officials insist their request covers only upcoming maturities.
- Chief of Cabinet Manuel Adorni hardened the stance by ruling out a meeting with Governor Axel Kicillof and warning that authorizations require fiscal balance, as the province warns of default risk without approval.
- The executive filed the Compromiso Nacional bill to prohibit deficit national budgets, trigger automatic spending adjustments when revenues fall, and criminalize both off‑budget spending and central bank advances.
- Extraordinary congressional sessions opened with the government seeking a committee vote next week on the 2026 budget and preparing a labor reform debate in a chamber where LLA holds the first minority and must secure allied votes.