He Ministry of Economy provided assistance through the Provincial Development Trust Fund to the Chubut government for $14,000 million so that it can face the fiscal and financial deficit that the province has.
Economy pointed out that “despite the signs of recovery of provincial income, still a situation of fiscal and financial deficit persists due to which the province of Chubut requests assistance to face the compliance by the Provincial Treasury of non-delegable commitments in due time and form”.
In this context, the disbursement was authorized by the Palacio de Hacienda, which allowed the signing and implementation of a “Financial Assistance Agreement” with the Chubut government. The decision was formalized through Resolution 598/2023, published this Monday in the Official Gazette.
These are the conditions
The financial conditions for reimbursement of the amount to be granted will be, among others, the following:
– The capital amortization will be made in fourteen monthly and consecutive installments and the first maturity will operate on the last business day of November 2023.
– He grace period is until October 31, 2023.
– Interest will accrue from each disbursement on the capital updated by the Reference Stabilization Coefficient (CER) published by the Central Bank (BCRA) and will be capitalized until October 31, 2023. They will be payable monthly, with the first due date. the last business day of November 2023.
– The applicable interest rate will be 0.10% annual nominal.
– He Loan capital will be adjusted from the disbursement according to the CER corresponding to the period elapsed between the date of each disbursement and the date of each maturity.
The Provincial Development Trust Fund was created by decree in 1995 and its purpose is, among other things, to assist and finance the reorganization of the debts of the Provincial States and the implementation of development programs.
Source: Ambito
