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ARGENTINA COUNTRY STRATEGY UPDATE 1.
Period of coverage The Country Strategy with Argentina covered the period 2004-2008 (document GN-2328-3) and was updated in 2008 through document GN-2477. In this regard, and considering the date of the change in administration in Argentina, the present CS Update covers the period from January 2009 to December 2011.
2.
Approvals during the effective period of the CS Update and their consistency with the areas of the CS The Country Strategy with Argentina provides for Bank interventions in three areas: (a) growth and competitiveness in a context more favorable to investment and productivity; (b) poverty reduction and promotion of sustainable, inclusive social development; and (c) institution-strengthening for better governance and fiscal sustainability. All operations already approved during the period of the CS Update have been consistent with the aforementioned areas of intervention. See breakdown in Annex I.1. The Bank has conducted a series of sector diagnostic assessments to target its interventions in Argentina during the period of the CS Update; these are detailed in Annex II.
3.
New sectors and rationale No new sectors are expected to be incorporated under the CS Update.
4.
Financial scenario The Government of Argentina has requested from the Bank a program of SG-operations for 2010 and 2011 in the amount of US$1.8 billion per year. However, that level of approvals is restricted by the current financial capacity of the Bank.1 In 2010, it is estimated that only one NSG (Opportunities for the Majority-OMJ) operation will be approved for approximately US$3 million, together with technical cooperation operations for approximately US$5 million.
5.
Country systems The fiduciary strategy with Argentina favors actions aimed at using its country systems (financial management, procurement, and auditing), reducing transaction costs, and strengthening the executing agencies' fiduciary capacity. This strategy is aligned with the government's Action Plan for improving management of public
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` Pursuant to document GN-2552, Argentina received an initial allocation for disbursements in 2010 of US$1.6 billion for its SG operations and, hence, its level of approvals will be adjusted to adhere to that limit.