The Buenos Aires provincial legislature will again debate this Wednesday the Debt Law promoted by Governor Axel Kicillof, which aims to take on a loan equivalent to approximately 3.6 billion US dollars. The governor's objective is to secure enough backing to obtain the necessary resources to meet the 2025 public debt maturities, without using funds earmarked for Health or Education. Kicillof warned that the debt issuance should be a 'formality' and announced a shift for the municipalities. The extraordinary session tomorrow will be chaired by Alexis Guerrera, who will remain the head of the Lower Chamber until the turnover on December 10. The newly elected provincial deputies received their diplomas and assumed the leadership of the Legislature. According to the Argentine News Agency, Kicillofism, besides its internal struggle with La Cámpora, is also facing difficulties in garnering the necessary opposition support, mainly from Juntos por el Cambio (JxC) and La Libertad Avanza (LLA), which conditioned their votes on various political demands, positions, and fund distribution. The provincial government announced last Monday a fund of 250 billion pesos, equivalent to 8% of the total debt, to be distributed among the 135 municipalities of Buenos Aires. Kicillof emphasized that this is not about 'taking on new debts for pharaonic works' but about 'refinancing' existing commitments and guaranteeing the province's fiscal sustainability. Likewise, the governor informed that the debt maturities would come from General Revenues and that the law seeks to 'guarantee' these payments through new financing.
