The Council of Ministers authorized this week the autonomous community of La Rioja to formalize short-term borrowing operations. This authorization is made in compliance with article 20 of the Organic Law on Budgetary Stability and Financial Sustainability (LOEPSF) and article 14 of the Organic Law on Financing of the Autonomous Communities (LOFCA).
In particular, the Council of Ministers has authorized La Rioja to formalize short-term debt operations for a maximum amount of 164.6 million euros, which will be used to cover transitional cash needs of both its General Administration and other entities in the Public Administrations sector of the Autonomous Community.
This authorization may only cover operations formalized until December 31, 2025.