Before leaving for the United States, the president Javier Milei issued a Decree of Necessity and Urgency to enable the taking on of new public debt. In addition, the Government made a key decision regarding the ENARSA company in the midst of the gas shortage.
The Government issued the DNU 459/2024published this Monday, May 27 in the Official bulletinwhich expands the authorization for the issuance of Treasury Bills and the issuance of new Public Debt instruments.
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The decree, signed by President Javier Milei and the ministers of his cabinet, expands by 35 billion pesos the authorization to issue refundable Treasury Bills during Fiscal Year 2024. The measure is justified because “the exceptional nature of the situation raised makes it impossible to follow the ordinary procedures provided for in the National Constitution for the enactment of laws,” according to the text.
This measure, which responds to “a strategy to reduce monetary emission”, will allow the Body Responsible for the Coordination of Financial Administration Systems to comply with the operations provided for in the current financial program.
In the decree they highlight “that within the framework of a strategy of reduction of monetary issue via rotation of Passes to Treasury Billsit is necessary to adjust the amount determined in the regulations cited in the preceding recital.”
In addition, said body is authorized to issue Public Debt instruments until reaching a maximum amount in circulation of 30 billion pesos. These instruments will be used to cover issues due to renewal of maturities during the end of Fiscal Year 2024 and whose maturity exceeds the current fiscal year, with a term of less than 90 days.
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The decree bears the signatures of the president and Nicolás Posse; Guillermo Francos, Diana Mondino, Luis Petri, Luis Caputo, Mariano Cúneo Libarona, Patricia Bullrich, Mario Antonio Russo and Sandra Pettovello.
Gas: reversal of the northern system
In the midst of the gas shortage that forced the suspension of supply to some industries, the national government declared an energy pre-emergency. In this context, the National Gas Regulatory Entity (ENARGAS) today authorized Energía Argentina SA (ENARSA) and Transportadora de Gas del Norte SA (TGN) to begin the delayed “reversal of the northern system” transportation project.
This is a work that will enable transportation in the reverse direction of the “Northern System”, which will allow the bidirectionality of the gas flow, “providing versatility and guaranteeing supply in the direction in which it is required.”
The ENARGAS auditor, Carlos Alberto Maria Casaressigned Resolution 233/2024, published this Monday in the Official Gazette, which enables the public company ENARSA to extend the natural gas transportation system from the “La Carlota” Compressor Plant to the “Tío Pujio” Compressor Plant.
The resolution also authorizes the construction of pipeline parallel to the North Gasduct and adjustments to the “La Carlota”, “Tío Pujio”, “Ferreyra”, “Dean Funes”, “Lavalle” and “Lumbreras” compressor plants to reverse the flow of the gas pipeline. .
ENARSA must guarantee the operational safety and maintenance of the gas pipeline, and TGN will be responsible for the control and authorization of the works.
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