Argentina Faces Massive Debt Rollover Amid Currency Pressures

chacodiapordia.com

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The Treasury was able to renew just 61% of the $15 billion that expired in the week. In the face of doubts about where the surplus will end, Federico Furiase, right hand of the Minister of Economy Luis Caputo, announced that “the pesos will be absorbed immediately via increase of remunerated laces with new public titles to be subscribed next Monday (day of the liquidation of the tender today), through a new tender of the Treasury”.

El Cronista

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It was a day of monetary tension in the run-up to the Treasury’s tender: the stock exchange bond reached 75% per year and closed at 40%. For fixed term placements for a high amount of 30 days there were banks that paid more than 50% per year. The greed of pesos in the banks was and is in sight. Already in advance it was intuited, and El Cronista reflected it yesterday, that the Treasury would not be able to renew 100% of the maturities for $15 b…

Bloomberg Linea

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The Argentine Treasury will hold an off-schedule debt auction next Monday, August 18, in order to re-absorb “the excess prices of the tender” this Wednesday. This was confirmed tonight in social network X by the director of the Central Bank of the Argentine Republic (BCRA) and adviser to the Ministry of Economy, Federico Furiase. In order to re-absorb that surplus of liquidity—in other words, part of the pesos that were not placed in debt instru…

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Distrust of the market and the error of "talking too much", the two factors that caused a low debt renewal to 61% and the possibility that the pesos seek refuge in the exchange rate. Read more