Argentina: Minister Caputo accused of diverting water fund to financial assets

Provincial Deputy Silvina Vaccarezza has accused Economy Minister Luis Caputo of diverting more than 354 billion pesos from the Water Infrastructure Trust Fund into financial instruments instead of using them for public works.

According to data obtained through a public information request, the vast majority of the funds—303.37 billion pesos—are currently placed in National Treasury Bills. Other portions are held in traditional fixed-term deposits and sight accounts. Vaccarezza criticized the administration's priorities, stating that while resources remain tied up in financial speculation, urgent needs for rural roads, flood prevention infrastructure, and Salado River works remain unaddressed.

This accusation follows similar concerns raised by Buenos Aires Governor Axel Kicillof, who previously noted that hundreds of billions of pesos intended for basin regulation and major works were not being utilized for their specific purposes.