Overview
- Governor Maximiliano Pullaro publicly rebuffed Economy Minister Luis Caputo’s push for rapid conversion of the funds, and no agreement has been reached.
- The dollars will remain abroad for now as the province plans staged transfers tied to certified public works and not for current spending.
- Provincial officials cite a recent Central Bank change to the exchange‑rate band update that they expect will lift the official dollar price, making early liquidation financially disadvantageous.
- Reporting indicates national officials saw the funds as a potential source to help cover a roughly $4.2 billion January 9 debt payment and a financing gap near $2.35–$2.4 billion.
- Santa Fe raised the money in early December via the SF34 bond, a nine‑year issue at a 8.10% nominal rate authorized for infrastructure financing.