Nº 18 December 2020

ISSN: 2173-8254

External financing of sub-national governments. The case of the Province of Buenos Aires with the International Bank for Reconstruction and Development and the Inter-American Development Bank (2003-2015)

Author/s: Facundo Carcedo

The paper analyses the main features of the foreign finance received by the Province of Buenos Aires from the International Bank of Reconstruction and Development (IBRD) and the Inter-American Development Bank (IADB) between 2003 and 2015, and preliminary in the period 2015-2019. The research emphasises the increasing international participation of the sub-national governments of Argentina in spheres previously reserved to the Nation-State, such as the direct finance with international financial institutions.  The paper is part of the studies that maintain that the international or foreign management of the Argentine provinces is in harmony with, and not against the Foreign Policy of the Nation. In this article that is evidenced in the authorization needed by the provinces to negotiate direct foreign debt, as well as the guarantee agreements signed by the Nation with the international organizations.