ANNOUNCEMENT 04 Jun 2009In June 2009, the government of Argentina announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Media - La Naci?n: http://www.lanacion.com.ar/nota.asp?nota_id=1135922
The Argentine government granted a US$70 million loan to General Motors Argentina, to finance the production of new small-sized models in the country. The loan was financed out of public security funds. One of the conditions demanded by the Government was that all the auto parts used in the project had to be locally made.
According to the Government, the aim of the measure was to guarantee jobs in an industry that had been essential in the creation of the more than 4 million posts since 2003.