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Argentinean Provinces: First Steps to Rationalization?
Standard & Poors, May 2000
Abstract
The financial health of the Argentine provinces is one of the key topics being addressed in current discussions about macroeconomic conditions within the country. The issue was at the top of the list of negotiating points between the IMF and the Argentinean government in the first months of 2000. The debate centers on the system of transfers from the Federal Government to the provinces-the coparticipation system-which does not provide incentives to the provinces to rationalize their financial performance or to increase own-source revenues. However, the autonomy of the provinces, as established in the Argentinean constitution, hampers the Federal Government's ability to require a fiscal adjustment by the provinces. With the objective of both helping provinces in extremely difficult financial condition...
Companies mentioned in this report are: Santa Fe,Buenos Aires (City of)
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Research Type: Commentary
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