Ley del gasto público argentina

Algunos opositores creen que el gobierno de Kirchner cedió ante el FMI.

Argentina has signed into law a crucial bill designed to control public spending by the country's national and provincial governments. The new bill may help Argentina to secure a 13 billion dollar loan deal with the International Monetary Fund. This report from Elliot Gotkine:

When the IMF signed a three year loan deal with Argentina last September, it came with strings attached. One of these was to rein in public spending from Argentina's twenty-four provinces whose profligacy contributed to the country's economic crisis and debt default some two and a half years ago.

The new fiscal responsibility law means that local governments won't be able to increase public spending by any more than the rate of economic growth. And in a bid to prevent Argentina's provinces from running up too much debt, only a maximum of fifteen percent of their public spending will be able to come from borrowings. Any provinces breaching these limits could face financial penalties.

Some opponents of the bill said their government has bowed to pressure from the IMF at the expense of Argentina. Others say the law doesn't go far enough because it doesn't force the provinces to reduce public spending when the economy shrinks.

with strings attached
con ciertos compromisos, literal es "con hilos agregados", que hay letra chica.

to rein in
controlar, reducir, detener

profligacy
prodigalidad

debt default
cesación de pagos de la deuda

fiscal
financiero

in a bid
en un intento por

running up
acumular, generar

breaching
en violación, en infracción

bowed to
cedió, flaqueó

shrinks
contrae