Argentina audits $200 million World Bank electricity subsidy program led by Finance Minister Luis Caputo

Argentina's Auditoría General de la Nación (AGN) released a 38‑page report criticizing the Ministry of Economy, headed by Finance Minister Luis Caputo, over the handling of a US$200 million tranche of a US$500 million World Bank (BIRF) loan intended for electricity subsidies. The audit found deficiencies in financial execution, internal control, and accounting, noting a lack of documentation to verify proper use of the funds. Only 41 % of the loan had been disbursed at the time of review, and the required operational manual for the program had not been approved. The program, managed through the Energy Secretariat, aims to target subsidies to vulnerable households and improve data on residential electricity consumption, with Edenor and Edesur selected as implementation partners. The audit covered activities from 26 November to 31 December 2024 and was completed in mid‑2025, highlighting gaps that could affect the program’s effectiveness through its scheduled end date of 31 December 2028.