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BCRA will restrict governors from borrowing from provincial banks

BCRA will restrict governors from borrowing from provincial banks
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This Tuesday, the Government spokesperson, Manuel Adorniannounced that the Central Bank (BCRA) will limit the financing capacity of governors by provincial banks. What he referred to is that the monetary regulator will not renew Communication “A” 6816, which sets the quota of credit quota that these entities can give to the public sector.

It was a resource that served the provinces to meet current expenses, above all, payment of salaries. This rule expires on 12/31 and the BCRA decided that it will not renew its validity.

This measure is within the framework of the debate over the Omnibus Lawso it can be read as a negotiating element that the Government is using to pressure the governors to approve this rule. Likewise, the information is allowed to transcend in a context in which the issue of quasi-currencies resurfaced as a possibility that some provinces are evaluating to finance current expenses.

News in development.-

Source: Ambito

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