The objective of the resolution is to contribute to the sustainability of provincial fiscal schemes, in the particular case of the province of Chubut.
Through Resolution 1632/2023 of the Ministry of Economypublished this Monday in the Official bulletinit was authorized Trust Fund for Provincial Development to refinance services amortization and interest that expire in the months of September, October and November 2023coming from the Agreement signed between the National State, the province of Chubut and the Trust Fund for Provincial Development, dated March 16, 2023.
Specifically, the resolution establishes that debt services will be refinanced in twelve consecutive monthly installments, with an annual nominal interest rate of 0.10%. Interest will be capitalized up to on December 31, 2023 and will be payable monthly. The guarantee of the debt will be a “pro solvendo” assignment of the rights to the sums to be received by the province of Chubut under the Federal Tax Co-Participation Regime.
The goal of the resolution is to contribute to the sustainability of provincial fiscal schemesin the particular case of the province of Chubut.
The most important points of the text:
- The Trust Fund for Provincial Development is an organization created by the National State to assist and finance programs that contemplate the recovery of the debts of the Provincial States.
- The province of Chubut requested a modification in the financial conditions of the debt contracted with the Fund, to meet debt commitments and short-term provincial treasury obligations.
- The National Government decided to authorize the refinancing of the debt, under the conditions established in the resolution.
The resolution comes into force from the day of its publication in the BO, that is, this Monday, November 6.
Source: Ambito
