The 90’s marked the beginning of a new macroeconomic context at a national level. Back then, the Ministry of Economy of the Province set out a regularizing process of its provincial debts with Banco Provincia and the federal government. These operations allowed the Province to put its accounts in order and significantly reduce its borrowing level.
Also, the favorable context made it possible for the province to tap the international capital markets. Therefore, the Province issued Eurobonds in the international markets for the first time in its history. The proceeds were allocated to infrastructure works significantly boosting public investment.
The first provincial Eurobond was issued in July, 1994. Since then the Province has had an active participation in the capital markets and become a well-known and valued issuer within the international market community.
Since that first issuance, the provincial financing activities have increased significantly in size, complexity and specificity level. Therefore, it was necessary to create an office with fulltime dedication to provincial financing. Consequently, on April 30, 1996, the Provincial Office of Financing Polices and Public Credit was created under the Treasury Secretariat of the Ministry of Economy.
Later, the Office was renamed as the Provincial Office of Debt and Public Credit. Mariano Moschione, the current director, is joined by a group of professionals, an administrative and a logistics team, who manage the provincial public credit, assess the available financing activities, issue debt in the domestic and international markets, as well as provide information about the Province to the diverse players in the international capital markets