Javier Milei's government approved three international loans totaling USD 1.5 billion, granted by the Inter-American Development Bank (IDB) and the International Bank for Reconstruction and Development (IBRD), an institution that is part of the World Bank Group.
Decrees 488, 489, and 490 published in the Official Gazette were signed by the president, Chief of Cabinet Guillermo Francos and Minister of Economy Luis Caputo. The decrees authorize the signing of the corresponding contracts and empower the designated officials to carry out the negotiations.
How the funds will be distributed
Of the three approved loans, two correspond to the IDB: one for USD 800 million intended for the "Fiscal Policy Strengthening Program II," and another for USD 400 million to finance the "Regulatory Reform Support Program for Competitiveness." The third, for USD 300 million, will be signed with the IBRD for the "Tax Administration Services Modernization Program."
This last one will be executed by the Ministry of Economy with technical assistance from the Revenue and Customs Control Agency (ARCA), with the aim of improving the efficiency, transparency, and effectiveness of the national tax system.
