The ruling party issued US$800 million at 8.6%. The opposition denounces 'desperate measures' and lack of oversight
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The prelude to the 2026 Opening of Ordinary Sessions of the Córdoba Legislature was marked by a strong political clash. The conflict erupted over the new debt issuance in dollars and the controversial drone tender. The opposition denounced the lack of transparency in the management of provincial public funds.
The provincial administration carried out the placement of US$ 800 million in the international market. The agreed rate was 8.6% with a repayment term of 9 years. The indebtedness was presented as a management success, but the numbers reveal fiscal fragility.
The ruling party defended the measure on the grounds of supposed "financial planning" and public works. However, reality indicates that the funds will be used mostly to repurchase old debt. The government is taking on expensive loans to pay the maturities of its own administrative inefficiency.
Facundo Torres, presidente del bloque oficialista, y Matías Gvozdenovich, Presidente Bloque UCR
Record debt and suspicions in security
Opposition legislators described the financial operation as "desperate flailing" in the face of the fiscal deficit. They warn that debt was taken on at an extremely high rate and with an alarming level of risk. They denounce that the negotiation is terrible and that the assets of future generations are being put at risk.
The controversy also reached the purchase of drones for security under a cloud of suspicion over the process. The ruling party attacked the Audit Court by accusing it of making "political use" of its powers. This onslaught against the oversight body seeks to silence the administrative irregularities that were detected.
The governing bloc oddly maintained that the oversight entity must not "obstruct management decisions." This stance ignores that the body's function is to ensure the legality of public acts. Transparency should not be an obstacle for anyone who manages others' funds with honesty.
La polémica también alcanzó a la compra de drones para seguridad bajo un manto de sospecha sobre el proceso.
Mortgaging the future of Córdoba's citizens
Opposition representatives recalled that just 6 months ago the province had already taken on another debt of US$ 725 million. Córdoba is consolidating itself as the most indebted jurisdiction in the country due to unscrupulous management of spending. The cycle of perpetual indebtedness is suffocating the private sector in order to cover the chronic deficit.
The official strategy of "rolling over" maturities confirms that there are no genuine resources to meet the 2027 payments. The party of inefficient public spending is being paid for by mortgaging the future of citizens and their children. The opening of sessions is arriving with the ruling party cornered by its own debts.
La apertura de sesiones en Laboulaye llega con el oficialismo acorralado por sus propias deudas.
