Argentina greenlights $5 billion debt plan

Argentina's government authorized up to $5 billion financing ​from international entities backed ‌by multilateral credit organizations, according to an official gazette publication on ​Monday.

The decree, signed by ​President Javier Milei, Economy Minister ⁠Luis Caputo and Cabinet Chief ​Manuel Adorni, aims to reduce ​borrowing costs through dollar-denominated loans with partial multilateral guarantees.

• Operations may include ​clauses granting jurisdiction to New ​York courts, while sovereign assets will be ‌protected ⁠from the arrangement.

• The protected assets include central bank reserves and accounts, assets linked ​to essential ​public ⁠services, and tax and royalty revenues.

• The Treasury ​and Finance secretariats are ​empowered ⁠to set terms, hire entities and manage necessary instruments.

• The ⁠measure ​took effect upon ​publication in the official gazette.

-Reuters