Argentina has access to 1.5bn dollars from IDB to improve metropolitan railways

Friday, September 13th 2013 - 01:38 UTC

Full article 14 comments

The Inter-American Development Bank (IDB) approved a conditional credit line for 1.2 dollars billion to finance a program to improve metropolitan railroads in Argentina. The Bank also approved the first loan in the credit line for 300 million dollars for the Plaza Constitucion-La Plata branch of the General Roca railroad, which will benefit 2.4 million people in the Buenos Aires metropolitan area. Read full article

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toxictaxitrader2
Argentina doe,nt need to borrow money we have been told,seems they do but who would be as foolish to lend,
,I.D.B. where does their money come from?
Sep 13th, 2013 - 03:02 am - Link - Report abuse 0
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Idlehands
Shocked that the UK has to lend more money to this “uniquely recalcitrant debtor”
Sep 13th, 2013 - 04:24 am - Link - Report abuse 0
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Optimus_Princeps
There's no need to borrow. The money in the Seychelles can be repatriated and pay it off without incurring any further debts, and the money that can be saved from getting rid of the La Campora parasites.
Sep 13th, 2013 - 08:42 am - Link - Report abuse 0
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yankeeboy
Arg has been pushing for access to this cash HARD. We should know shortly what is happening with the IMF, Arg is supposed to release the new inflation methodology shortly so we'll have to see if it is good enough for the IMF to forego suspension. The last methodology they ran by them for comment was laughed at.
If they lose IMF membership they won't be able to get anything from WB or IDB either. That is why they are trying very hard to get as much as they can before the IMF meeting.
They say Cargil suspended soy crushing operations, first time in a long time due to no supply. Funny since the Rgs have been saying it was a banner year.
YPF head publicly stated they are going to have to import more gas and oil since they are reaching a tipping point on extractions. He expects the extractions to start to decrease dramatically in 2014.
No U$ and lots going out
Rut ro
Sep 13th, 2013 - 08:49 am - Link - Report abuse 0
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Gordo1
IDB - its shareholders are all the countries of Latin America plus the US, UK, Spain, Germany, Japan, France and many other prominent economies.

I wonder how many non performing assets it has? Is Argentina servicing all its debt with the international agencies such as BID?
Sep 13th, 2013 - 09:18 am - Link - Report abuse 0
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yankeeboy
5. Yes they are servicing the IDB debt but for the first time in the history of their relationship Arg paid in more then it received in 2013.
Sep 13th, 2013 - 09:29 am - Link - Report abuse 0
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golfcronie
@ 6
Time for a default in 2014/2015 then.
Sep 13th, 2013 - 02:01 pm - Link - Report abuse 0
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ChrisR
There are some obvious problems with this:

1) does anybody believe the money will be spent exclusively on the railroads?

2) does anybody believe TMBOA WON’T THIEVE MOST OF THE MONEY?

3) how many of the 9 million people using buses and cars WILL make the change given the fact that as usual the “government” have been claiming big improvements are being made in the safety of these lines already while suffering serious smashes on these very same lines?

Answers on a postage stamp to TMBOA, the Nut-House, aka casa Rosada.
Sep 13th, 2013 - 03:27 pm - Link - Report abuse 0
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ElaineB
Conditional loan approval. I wonder what the conditions are?
Sep 13th, 2013 - 04:05 pm - Link - Report abuse 0
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yankeeboy
9. You are right approval is not disbursing! They gotta pay the Chinese something for those trains.

They have the army fixing the tracks instead of training.

I think it is time Chile and Brazil started divvying up Argentina.
Sep 13th, 2013 - 11:53 pm - Link - Report abuse 0
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Stevie
6
You forgot to mention that that's an achievement USA still has to experience...
Sep 14th, 2013 - 10:56 am - Link - Report abuse 0
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ChrisR
11 Stevie

I wouldn't be too cock-a-hoop about that.

Remember what I told you about the rollover on top of a rollover that Pepe and his mob of mates has done to the economy? Tick tock!
Sep 14th, 2013 - 02:06 pm - Link - Report abuse 0
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golfcronie
The photo looks like a railway in India
Sep 14th, 2013 - 03:07 pm - Link - Report abuse 0
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Captain Poppy
Steverina.....why would the USA service IDB debt when they are non borrowing members? For a country that does not borrow from the IDB but has 30% of total paid in capital, yet all of SA and the Caribbean has a combined total of 50% and they borrow.
Sep 16th, 2013 - 06:35 pm - Link - Report abuse 0
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