The Government takes rendered almost 10,000 million pesos

02/03/11 – 11: 27

They are to pay “the costs of equity and debt” during 2011. And they will begin to be returned from 2012.

Barely begun the election year, the Government resorted to the National Bank to finance “capital expenditure and debts” by nearly 10 billion pesos throughout 2011. Did it so through a loan that the entity will be delivering to the Treasury during the year that will begin to be returned from 2012.

In total, the National Bank will the Government 9.996,5 billion dollars in two different loans endorsed two joint resolutions of the Secretaries of Treasury and finance published today in the Official Gazette.

The first resolution provides an operation of funding granted by the National Bank to the National Treasury for 8.396,5 million pesos, whose first part surrendered the sixth working day of February for 1.399.430.000 pesos. Following nine disbursements for 699.715.000 pesos each will be awarded the sixth working day of each month, and the last, to put into practice in December for 699.635.000 pesos.

The second resolution, also signed by the Secretaries Hernán Lorenzino and Juan Carlos Pezoa, authorizes a loans 1.6 billion pesos, whose disbursement is “subject to the level of liquidity” of the financial institution.

Repayment of debts two will be in 24 installments “monthly, equal and consecutive”, first maturing the fifth working day of January of 2012.

The interest on the loan will be paid monthly and consecutive installments from the second month after the disbursement, and used the rate Badlar (for deposits to bound of more than one million pesos), more a margin of 100 basis points; today would be about 12%.

Barely known far, Lorenzino was hastened by affirming that the national treasure “did not take new debt” but that is a “rollover” of previous loans.