Nicolás Dujovne talks at the T20 Summit of the G20
Minister of Treasury, Nicolás Dujovne, talked this morning at the opening of the 2nd day of the T20 Summit of the G20, at the CCK.
Announcement of USD 7.5 billion Sales Program
The Ministry of Finance informs that there will be an announcement for a sales program of up to USD 7.5 billion arising from the agreement with the International Monetary Fund (IMF) for budgetary support.
The program consists in daily pre-announced sales to be executed through an auction mechanism conducted by the Central Bank of The Argentine Republic (BCRA, for its acronym in Spanish) at the request of the Treasury.
FONPLATA will finance projects in Argentina for USD 42 million
The resources will be aimed at the digitalization of the cultural heritage and infrastructure works in Belgrano Sur Railway.
The Financial Fund for the Development of La Plata River Basin (FONPLATA, for its acronym in Spanish) approved today a financing agreement for 2 projects in Argentina for a total amount of USD 42 million at the 158th Board of Directors Meeting of the Organization, held in Santa Cruz (Bolivia) and presided over by the Undersecretary of International Financial Relations of the Ministry of Finance of Argentina, Martin Soto.
The first loan, for USD 7 million, will be aimed at the “Project of Digitalization of the Cultural Heritage of the National Library Mariano Moreno”. The goal of the project is to strengthen the digital access to the library collections that constitute the cultural heritage of the National Library Mariano Moreno (BNMM, for its acronym in Spanish).
This project will contribute to the preservation of valuable library collections which represent the historic, literary, scientific and cultural heritage of Argentina. At the same time, the project will directly benefit current and potential users of the BNMM.
The second loan consists in a USD 35 million co-financing agreement for the “Projects for the Improvement of Railway Connectivity to Constitución – Belgrano Sur Railway”, entered into with the Development Bank of Latin America (CAF).
The Project foresees the improvement of the Belgrano Sur Railway service on the one hand and the removal of railway lines in an area that will benefit its neighbors and the vehicle circulation on the other.
Currently, the Organization finances 17 investment projects for USD 366.5 million developed in Argentina.
FONPLATA is a multilateral organization formed by 5 countries: Argentina, Bolivia, Brazil, Paraguay and Uruguay, which main mission is to support the integration of member countries to achieve an inclusive development, within and among the geographic areas of influence of La Plata River Basin through credit operations and non-refundable resources.
The Argentine Government agreed USD 5.65 billion Financing with Multilateral Organizations
The resources, which double the current annual amount received by Argentina from these organizations, are part of the agreement with the International Monetary Fund (IMF) and broaden the availability of funding
The Argentine Government has obtained an important source of financing for its economic program with new rapid-disbursement lines of credit for a total of USD 5.65 billion agreed with the Inter-American Development Bank (IDB), the World Bank (WB) and the Development Bank of Latin America (CAF), to be paid during the next 12 months.
For the rest of the year and in 2019, this financing will double the current financing received by Argentina from these organizations. The resources are part of the financing agreed upon by the Government and the International Monetary Fund (IMF).
The IDB has agreed financing for USD 2.5 billion, the World Bank for USD 1.75 billion and the CAF – Development Bank of Latin America – for USD 1.4 billion.