Co-participation: Alberto Fernández announced that he will abide by the Supreme Court ruling

After last week Alberto Fernandez announced that he would not abide by the ruling of the Supreme Court of Justice of the Nation (CSJN) in favor of the City of Buenos Aires on the issue of co-participation, the president notified this Monday that he would comply with the measure.

Through their social networks President issued a statement in which it reiterated that “the resolution lacks foundations” and that it is “flawed”, in addition Alberto Fernandez He assured that the ruling “affects the legitimate rights of the Argentine provinces.”

In this way, Alberto Fernandez remarked that said decision is “impossible to comply”, for which reason will present “an appeal for reversal ‘in extremis’ against the judicial decision made, in order to review the precautionary measure ordered”.

In addition, the president maintained that he ordered “to challenge the judges of the highest court because, having established a position on the substantive issue when issuing the precautionary measure, they have prejudged the National State, damaging their accounts and affecting the resources of the 23 Argentine provinces ” .

Co-participation: Alberto Fernández announced that he will abide by the Supreme Court ruling

However, the president stressed that “judicial decisions are mandatory even when he deems them disvaluable and unfair”, for which he instructed “the JGM (Head of the Cabinet of Ministers) to reallocate the only resources available for the year 2022 and transfer them to a Banco Nación account in the name of the GCBA (Greater City of Buenos Aires)”.

The president explained that For the payment “TX31 bonds will be used and they will be made available for compliance with the precautionary measure that we are challenging”. The TX31 are Treasury bonds in pesos that pay 2.5% above the CER index adjustment. “This transfer will include, in bonds, the money corresponding to 90 days of validity of the precautionary measure, pending the final ruling, or a law of Congress that assigns the pertinent budgetary resources to this payment.”

Co-participation: Alberto Fernández announced that he will abide by the Supreme Court ruling

The president stressed that “The bonds consigned have already been accepted by the CSJN to meet the debt of the National State with the Province of Santa Fe. Thus, there would be no injury to the right granted to the CABA, unless the court believes that there are first class cities and second class provinces.

A project will be sent to Congress to provide resources to comply with the measure

The head of state He stressed that the decision of the Court will affect all the provinces, given that the spending that the State must make is not foreseen in the 2022 or 2023 budget.

Co-participation: Alberto Fernández announced that he will abide by the Supreme Court ruling

For this reason, the president indicated that he has “instructed the MECON (Ministry of Economy) to send Congress a bill to be discussed in extraordinary sessions, which provides for the budgetary resources necessary to make it possible to comply with the judicial mandate as provided by Law 23,982 in its article 22”.

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