Connect with us

Hi, what are you looking for?

Breaking News

Argentina launches $65 bln bond swap to push back 2024 debt

 – Argentina’s government will launch a huge voluntary debt swap on Monday of peso and some dollar-linked instruments set to mature in 2024, a bid to push back repayments amid a major economic crisis hammering the South American country.

The debt, which includes 15 different instruments with a total value pegged at around $65 billion, may be exchanged for new inflation-linked instruments with maturity dates ranging from 2025 to 2028, according to the government.

“The eligible securities in the hands of the public and private sector for the swap operation amount to some 55 trillion Argentine peso ($64.86 billion)” a government source said, adding around 70% of the maturities were in the hands of the public sector.

The government will open the auction process on Monday morning and will close it on Tuesday evening. Settlement of the offers received and awarded will take place on Friday.

Argentina’s new President, libertarian Javier Milei, is battling to restore economic stability with a tough austerity and cost-cutting drive, which has helped improve the fiscal balance but dampened growth and economic activity.

The grains producing country is also grappling with inflation running at over 250%, poverty that is climbing towards 60%, depleted central bank foreign currency reserves, and a myriad of currency controls to protect the embattled peso. – Reuters

You May Also Like

Editor’s Choice


Editor’s Choice


Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 KingOfCashSecrets. All Rights Reserved.