Key Benefits:
VISTO Expedient No. 090-0046S3/98 of the registry of the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES, the model of Loan Contract for the Special SECTORIAL PROGRAMME proposed to be subscribed between the ARGENTINA NATION and the INTER-AMERICAN DEVELOPMENT BILL, for a total of DOLARES STATE
CONSIDERING:
That through the aforementioned Loan Contract the INTER-AMERICAN DEVELOPMENT BANCO commits itself to financially assist the ARGENTINA NATION through the SPECIAL SECTORIAL AJUST PROGRAMME.
In the face of the current international crisis, it is necessary to deepen the process of structural reforms, focusing on the financial sector, on social development, on strengthening the regulation of public services and on improving fiscal efficiency in the relationship NATION - PROVINCIES, which will be implemented through the SECRETARY for ECONOMIC AND REGIONAL PROGRAMME of the MINISTERY OF ECONOMY AND PUBLIC SERVICES.
That the general conditions, the amortization deadlines, the interest rates and the other clauses contained in the proposed Loan Contract to be signed are the agreements with the INTERAMERICAN DEVELOPMENT BANCO and are appropriate to the purposes and objectives to which the loan is intended.
That the formalization of the operation requires that the NATION ARGENTINA through the MINISTERY OF ECONOMY AND ARTWORKS AND SERVICES PUBLICS subscribes to the Loan Contract and all its additional documentation.
That under Decree No. 434 and Administrative Decision No. 210, both dated 15 May 1997, the JEFATURA DE GABINETE DE MINISTROS has taken the necessary intervention.
That the General Directorate of Humanitarian Affairs of the MINISTERY OF ECONOMY AND ARTWS AND SERVICES PUBLICOS has taken due intervention in the area of its competence.
That the Prest Contract proposed to be subscribed is covered by Article 60 in fine of the Financial Administration and National Public Sector Control Systems Act No. 24.156.
That in accordance with Article 16 of Act No. 11.672, Supplementary Permanent Budget (T.O.1997) and Article 99, paragraph 1 of the NATIONAL CONSTITUTION, the NATIONAL EXECUTIVE POWER is empowered to approve operations of this nature and subject eventual disputes to the decision of the Arbitral Tribunals.
Therefore,
THE PRESIDENT OF THE ARGENTINA NATION
RIGHT:
Article 1 APPRECIATE the model of the Préstam Contract for the SPECIAL PROGRAMME OF SECTORIAL ASSESSMENT, which consists of SIETE (7) Chapters and VEINTIDOS (22) Clauses, the General Standards Applicable to the Contracts of the INTERAMERICAN BANCO, composed of OCHO (8) Art. 2o- Please refer to the Minister of Economics and Public Works and Services, or to the official or officials designated by him, to subscribe on behalf of and representation of the ARGENTINA NATION, the Loan Contract and all its additional documentation concerning the model approved by Article 1 of this Decree. Art. 3o- Please provide to the Minister of Economics and Public Works and Services or to the official or officials designated by him, to agree and subscribe on behalf of and representation of the ARGENTINA NATION, modifications to the Loan Contract whose model is approved by Article 1 of this Decree, provided that they do not constitute substantial changes to the object and destination of the loan, or result in an increase in their amount or modify the agreed arbitration procedure. Art. 4o- Please refer to the holder of the SECRETARY for ECONOMIC AND REGIONAL PROGRAMME of the MINISTERIO DE ECONOMIA AND ARTWS AND PUBLIC SERVICES as National Director of the SPECIAL PROGRAMME OF SECTORIAL AJUST, to address the emerging responsibilities of its implementation, as described in the model of the Loan Contract adopted by Article 1 of this Decree. Art. 5o- Include the holder of the SECRETARY for ECONOMIC AND REGIONAL PROGRAMME of the MINISTERY OF ECONOMIC AND ARTWS AND SERVICES PUBLICS to delegate to the person/s by the designate/s the powers that be necessary for the achievement of the objectives of the SPECIAL PROGRAMME OF SECTORIAL AJUST in order to be carried out with the maximum operational agility and in accordance with the conditions laid down in the Loan Contract and its additional documentation, whose model is approved by Article 1 of this Decree. Art. 6o- Contact, post, give to the National Directorate of the Official Register and archvese. -MENEM.-Jorge A. Rodríguez-Roque B. Fernández. NOTE: This Decree is issued without Annex I. Unpublished documentation can be consulted at the Central Headquarters of the Official Gazette (Suipacha 767 - Capital Federal).