Government to compensate businesses hit by looting

It will designate AR$700 million to cover the damage from robberies and other incidents that occurred between August 19 and 24

The government will allocate AR$700 million to compensating businesses harmed by looting across the country between August 19 and 24, official sources told Télam news agency. The funds, which could be expanded if proven to be insufficient, will be channeled through a Reparation Program with a AR$7 million limit for each business. 

Over 40 people were arrested over the long weekend for looting supermarkets and convenience stores in Buenos Aires City and different cities in Mendoza, Córdoba and Neuquén provinces. On Tuesday, close to 100 were arrested for robbery and attempted robbery in supermarkets in several Greater Buenos Aires suburbs. 

During his recent trip to Washington DC to meet with the IMF, Economy Minister and Unión por la Patria (UxP) presidential candidate Sergio Massa had already announced there would be “reparations” for business people affected by the looting. 

In a press conference, Massa said he had instructed the Industry Secretary of the Economy Ministry to “offer a non-refundable contribution of up to AR$7 million to businesses attacked in Buenos Aires, Neuquén, Río Negro, Córdoba and Mendoza who have verifiable damages and have filed a complaint.”

In order to receive the payment, affected companies must meet certain requirements: a filed criminal complaint, an official certification of the amount of damage, and an official banking registration code (CBU, for its Spanish acronym.) An optional item on the list is the presentation of evidence, such as pictures or video documenting the damage. 

Also, stores with under 50 employees are automatically eligible to file for compensation, while businesses with more than that amount must be in compliance with the Fair Prices agreement. 

– with information from Télam


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