Buenos Aires, Argentina – The government of President Javier Milei has successfully secured three new international loans totaling an impressive USD 1.5 billion from the Inter-American Development Bank (IDB) and the International Bank for Reconstruction and Development (IBRD), part of the World Bank Group. These crucial credits, approved via decrees 488, 489, and 490, are strategically designed to enhance tax efficiency, boost national competitiveness, and strengthen Argentina’s fiscal policy.

Specifically, two of the loans originate from the IDB: USD 800 million will be allocated to the “Fiscal Policy Strengthening Program II,” and USD 400 million will support the “Regulatory Reform Support Program for Competitiveness.” The third loan, for USD 300 million from the IBRD, is designated for the “Tax Administration Services Modernization Program.” This latter program will be executed by the Ministry of Economy with technical assistance from ARCA, aiming to optimize the national tax system’s efficiency, transparency, and overall effectiveness.

The article emphasizes that these loans offer significantly more favorable financial conditions than those available in the international market, representing a crucial advantage for the country. Furthermore, they are an integral part of the government’s broader strategy to reduce the fiscal deficit, efficiently manage public spending, and modernize the state without relying on local resources. This new financing also complements a recent USD 230 million agreement with the IBRD focused on improving employability through targeted training programs.

The securing of these international credits stands as a clear testament to global confidence in President Milei’s economic plan and his unwavering commitment to Argentina’s fiscal stability and sustainable growth.