Argentina to Enhance its Public Financial Management with IDB Support

Argentina will enhance its financial management with a $60 million loan from the Inter-American Development Bank (IDB) to support its fiscal consolidation measures. This initiative aims to increase the technical efficiency of Argentina's spending and improve the quality of public services for its citizens.

The project will strengthen national and provincial processes, regulations, and systems for public financial management. It will also upgrade the country's technological infrastructure to improve the quality, timeliness, and processing of information, thereby enhancing accountability.

Specifically, the operation will enhance Argentina's budgetary and financial management model, aligning it with international best practices. The reforms will strengthen results-based management and monitoring and evaluation instruments and integrate the budget and financial management of agencies currently operating outside the federal public financial management system.

In terms of technology, the program will add big data and business intelligence capabilities to the federal platform for public financial management. It will also implement a data storage platform with a dashboard to generate reports, mine, and analyze data. Additionally, the country will enhance cybersecurity and expand interoperability between different systems for managing government data.

At the provincial level, the operation will provide technical assistance for designing and implementing reforms, regulations, processes, and procedures for better financial management. It will also support provincial governments in modernizing and adjusting their financial management platforms.

This project complements previous IDB operations aimed at addressing Argentina's fiscal imbalances. It will enable the country to improve the quality of public spending within its fiscal consolidation plan, benefiting citizens and society through more efficient and transparent use of public resources.