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According to the Argentinean Minister of Economy, the first 400 million will enter next week.
The Minister of Economy and Public Finance, Sergio Massa, said Argentina signed six credit agreements worth 740 million dollars with the Development Bank of Latin America (CAF).
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Massa said that this funding would be allocated to public works, the "Argentina against hunger" plan, the development of agro-export complexes, and projects concerning school infrastructure in Buenos Aires province and environmental care programs.
The Minister referred to the importance of the agreement, which contributes to further strengthening the reserves, given the generation of income in dollars it produces.
According to Massa, the government is also negotiating other agreements with Asian, European, and U.S. banks.
Este acuerdo es muy importante porque genera una transferencia de dólares que permite reemplazar parte del gasto en pesos que venía llevando adelante el Estado, y porque produce un ingreso en dólares que nos ayuda a seguir fortaleciendo las reservas. pic.twitter.com/Zf1RKs6Lu6
— Sergio Massa (@SergioMassa) August 19, 2022
This agreement is significant because it generates a transfer of dollars that allows us to replace part of the spending in pesos that the State had been carrying out and because it produces an income in dollars that helps us to continue strengthening our reserves.
In his Twitter account, the Economy Minister said the credit agreements were signed by the Development Bank of Latin America's president, Sergio Díaz Granados, its corporate vice-president, Christian Asinelli, and ministers and national officials.
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