The Argentine government has - for the first time since the High Speed Line between Buenos Aires and Cordoba had been awareded to Veloxia - admitted that there is no sufficient funding for the project. Ricardo Jaime, minister of transport, announced that the project (which was projected to cost $ 4.000 bn, but whose nominal value was much more than that) is currently on hold.
As part of the international crisis and little chance of getting a loan, the minister acknowledged that there is no funding, but said that "the work will be reactivated if they get the necessary funds." He further remarked that "it is a decision taken by the executive branch." Ricardo Jaime emphasized that despite the financial crisis, the high speed line project in Brazil "has just announced that there are three groups involved in the construction of a high-speed train between San Pablo and Rio de Janeiro."
The postponement of the work does not provide a legal problem for the country.
