10/30/2020

First time ever, Argentina has a specific Fund to finance the re-equipment of the Armed Forces

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First time ever, Argentina has a specific Fund to finance the re-equipment of the Armed Forces and, at the same time, to promote the development of the national defense industry.

Fondef creation is a legal initiative of Agustín Rossi, last year when he was a deputy, and he currently serves as Minister of Defense. The objective of the measure is to support the re-equipment of the Armed Forces of Argentina, although at the moment such a goal sounds ambitious due to the military deficiencies of the South American country, it faces a major obstacle, the imminent economic crisis that is coming to Argentina, whose most obvious sign is the issuance of abundant paper money carried out by the Central Bank of the Republic of Argentina (BCRA).

On the approval of his legislative initiative, Agustín Rossi, described it as a historical fact. “It is a specific fund that is intended for the re-equipment of the Argentine Armed Forces so that the objectives of any defense policy can be met, which is to guarantee sovereignty,” said Rossi.

Rossi added that the Fondef will allow the Armed Forces to fulfill their main mission, guarantee national sovereignty in air, land and maritime spaces, and fulfill secondary missions to help the community.

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