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
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
