He Government wants him senate approve the Budget 2026 next Friday, December 26th, thereby accelerating negotiations. As advanced Infobaeat 6 p.m. This Sunday began a virtual meeting with the bloc leaders of the 44 allied senators to outline the strategy to be applied in the next session of the year House of Lords.
“At 6 p.m. we will do a Zoom, there will certainly be several suggestions,” he commented Infobae, one of the allied senators Governmentwho takes part in the meeting. With doubts as to whether authorities of the National Executive (PEN) will participate.
It just is, after what happened MPswith the ruling party’s failed maneuver to include an article in Chapter 11 to condition the legislature’s vote and achieve the repeal of the University Financing and Disabilities Act along with the designation in General Administration of the Nation (AGN)Governors will assert their bargaining power in the senate.
The one who needs approval the most budgetafter a two-year extension until 2023, is Minister of Economics, Luis Caputoas this will be a signal to the market that the Government can form alliances congress. At the same time, it contains Article 56, which would allow you to exchange debts without having to respect the Martín Guzmán Financial Management Law..
But in some provinces the phones don’t stop ringing at this point. “They call constantly now, almost tiringly, but they don’t put anything into the budget“commented a source close to a governor of Provincia Unidas, who warned that they could repeat the strategy of the Chamber of Deputies.
“We gave them a quorum of deputies because they called out of desperation and we believe that Argentina must have a budget, but the project does not contain anything for the demands of the provinces,” he said Infobae. One of the main issues concerns pension funds, although many filed parallel lawsuits in court.
The project envisaged that the National Social Security Agency (Anses) would transfer $122,762 million. However, he introduced a caveat: “Only those provinces that have a recognized deficit can request the payment of advances.whether provisional or final, arising from an agreement signed with Anses and corresponding to at least the 2021 financial year or later.”
“In general, in the Senate, if they do not present anything for the provinces, the most likely position is that they reach a quorum and we abstain,” they told this medium. The key will be to see what happens in this Sunday’s virtual session. However, there will be no incentive in the ruling party to introduce changes, as in this case they will have to return to the Chamber of Deputies.
With the semi-sanction in the Chamber of Deputies, Minister Caputo approached the possibility of exchanging debts under conditions other than those established by the Guzmán law and is therefore the party with the greatest interest in sanctioning the law, given the hard maturities of external debt in 2026.
“Empower them Finance Minister already Ministry of Finance, both Ministry of Economic Affairsto carry out liability management operations, regardless of the instrument that expresses them. “These transactions may include the purchase, sale and exchange of financial instruments such as bonds or stocks, currency swaps, interest rates or securities, the purchase and sale of options on financial instruments and any other usual financial transaction in the derivatives markets,” the draft says. Budget 2026 which received half a sanction in the Chamber of Deputies.
This significantly modifies Article 65 of Law 24.156 Financial managementbetter known as Martin Guzman Lawwhereby it was determined that the Executive power It may carry out public credit operations to restructure debts only to the extent that this results in an improvement in the amounts, conditions and/or interest of the original operations.
Last week, during an interview with Streaming The house, Caputo He referred to what would happen if the… Argentina Pay off debts. “The bonds that Argentina has on the market are Guzmán restructured bonds, which are conventional. And when you have a conventional bond, it is quoted at a lower price. That is, with a higher internal rate of return, simply because it is not a bond of the prototype that is purchased on the market,” he explained.
In this sense, the national official revealed that the economic team wanted to see what happened with the BONAR 29N tender. “It was 100 basis points below those bonds. What that translates to is this.” If we could replace the old bonds with conventional bonds, the country risk, which is now at 590, could be at 490 without changing anythingsimply because you changed the structure of the bonds,” he added.
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