The national government has agreed on a credit with the Andean Development Corporation (CAF) for US$ 400 million, which is formally intended to improve the electrical system, but in practice, it improves international reserves. The measure was formalized through Decree 23/2026, published on January 19, 2026, in the Official Gazette, to which the Argentine News Agency had access. This operation must be framed within the continuous announcements of credits granted by multilateral organizations, which create a “roll over” mechanism similar to that of the private sector. Agreements of this type are known every month, which ultimately compensate for payments on loans taken out in the future. Formally, this money is for the execution of the “Broad Sectoral Approach (SWAP) Program to Support the Sustainability of the Energy Sector”. This time, the program has four execution components: strengthening the regulatory and institutional framework of the energy sector; improving the targeting of subsidies; promoting the efficient consumption of resources; and other operational expenses. The Ministry of Economy will act as the executing body through the Secretariat of Energy and the Legal and Administrative Secretariat.
