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The Argentine Government promotes a law to develop the capital market

The Government of Argentina presented today in the Congress the project of law of productive financing, that looks for to develop the market of capitals, they informed official sources.

Buenos Aires, Nov 15 (EFE). - The Government of Argentina presented today in the Congress the project of law of productive financing, that looks for to develop the market of capitals, informed official sources.

The Secretary of Financial Services, Leandro Cuccioli, and the Undersecretary of Legal and Regulatory Affairs of the Ministry of Finance, Eugenio Bruno, presented the main lines of the initiative in a plenary session of the Finance, Budget and Finance Commissions of the Chamber of Deputies.

The president of the Chamber of Commerce also attended the meeting. National Securities Commission (CNV, regulator of markets in Argentina), Marcos Ayerra.

According to the Ministry of Finance, the regulation will boost financing to SMEs, promote the access to housing, strengthen the role of the CNV and encourage the development of greater instruments for long-term savings.

"The development of the capital market is a challenge we have ahead as a country. accessible to those who need funding, "said Cuccioli.

The Secretary of Financial Services also emphasized the promotion of access to housing and explained that" with this law creates an instrument that will provide the possibility of having abundant and cheap mortgage credit. "

For his part, Marcos Ayerra explained the importance of building a market of solid capital through legal security and a system of transparent regulation.

"For that we add concepts that allow us to regulate better and have more capacity for reaction to be institutionally stronger, "he said.

Finally, Eugenio Bruno spoke about the legal and regulatory aspects of the new Productive Financing Scheme and said that this project "aims to improve the regime for SMEs".

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