Overview
- Maximiliano Pullaro confirmed the dollars from Santa Fe’s recent Wall Street bond will remain abroad for now and be brought in only to pay public-works certificates.
- The province says it has up to 180 days to repatriate the money and wants a financial instrument that protects the proceeds against a rise in the official exchange rate.
- Santa Fe issued a $800 million, nine-year bond at a 8.10% nominal rate, with funds earmarked for infrastructure rather than current spending.
- National Economy Minister Luis Caputo pushed for immediate liquidation as the federal government seeks foreign currency ahead of an external debt payment of roughly $4.2 billion due around January 9.
- Provincial officials argue recent Central Bank changes to exchange-rate bands heighten peso volatility and would make early liquidation costly, intensifying political friction with the Milei administration.