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©Reuters. Argentina manages to partially exchange debt securities in the domestic market
Buenos Aires, June 22 (.).- Argentina managed this Wednesday to partially exchange in a voluntary operation in the domestic market debt securities in local currency that expire next week.
According to official sources, in this Wednesday’s operation, offers were accepted to exchange Treasury bills for a total nominal value of 273,972 million pesos (2,132 million dollars).
The voluntary exchange proposal launched this Tuesday by the Ministry of Economy aimed at reducing the weight of the due date next week of two types of Treasury bills for a total amount calculated by analysts at 566,000 million pesos (4-404 million Dollars).
Investors who accepted the swap will be given different baskets of bills, maturing between next August and January 2023.
Without the possibility of financing itself in the international markets, Argentina resorts to the domestic debt market with at least two monthly tenders, a strategy ratified in the extended facilities program sealed with the International Monetary Fund (IMF) last March.
In the agreement with the IMF, Argentina promised to gradually limit and cut back assistance to the Treasury by the Central Bank, so the refinancing of debt maturities in the domestic market has become even more fundamental.
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