The
World Bank
could contribute around
$1 billion
this year for
social programs,
as it usually disburses.
The money will be essential at a time when
the Government stopped spending on soup kitchens
and direct aid to people in
poverty
.
The American economist
Marianne Fay
, director of the organization for Argentina, Paraguay and Uruguay, pointed out this Tuesday that the emphasis of the World Bank is to provide aid to the Government to "
mitigate the social impact
" of Javier Milei's economic policies, aimed at correcting the distortion of relative prices, eliminate the fiscal deficit and its monetary financing to lower inflation.
The organization has a portfolio with Argentina of 28 active projects for a total of US$8.92 billion, of which
half have yet to be executed.
In 2023, the World Bank disbursed US$1.8 billion and by 2024 it has secured US$700 million, but hopes to be able to expand investments.
Its focus is "social protection and children."
"We are concerned about poverty, and especially
child poverty
," Fay said.
Asked by
Clarín
about the lack of execution of social spending in the first quarter of the year, the economist stated: "
When there is a new Government, it is always difficult for it to get the machine going
. We are talking to see how we can help, make things simpler. "
"We trust that they will be able to quickly help the population."
According to Open Budget data, the execution of spending in the "Promotion and Social Assistance" function accumulated up to March 24 about $539,587.20 million (on a cash basis, paid), 26.38% of the total extended budget of the previous year -which implies a
decrease in real terms
close to 70% year-on-year, due to the effect of inflation-.
Of that amount, $275,528.82 million were allocated for food policies, after a beginning of the year in which the canteens had reported that they were not sent resources.
NE