It is a 10-year bond, with a 3-year grace period, and amortization in 12 equal and consecutive semi-annual installments, with a BADLAR interest rate.
It is intended for the refinancing of the loan contracted in 2016 with the Nation, within the framework of the agreement signed in May of that year between the central government and the provinces, which provided for the deduction of 15% of the co-participation tax mass.
Río Negro ratified it through Provincial Law No. 5112 of June 6, 2016.
As reported, “in return, the Nation instructed the Sustainability Guarantee Fund (FGS) to grant the Provinces a freely available loan with partial and successive disbursements and cancellations to which the Province agreed.”
On December 1, 2020, this FGS credit was refinanced.
In this sense, “the Fund undertakes to refinance the sum of $1,287,165,629, corresponding to principal amortizations plus accrued interest proportional to the refinancing date of each amortization, of 2020 and 2021.”
“The refinancing was for a term of 8 months, maturing on August 1, 2021.” Meanwhile, “on July 14, 2021, an extension to the Refinancing Agreement was offered, through the Conversion Bond of Decree 458/2021, with medium-term maturity.”
“Currently there are 21 provinces, including Río Negro, that are in the same condition with respect to the FGS Bonus,” the official information pointed out.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
