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© Reuters. Argentina places debt in the local market for 1,044 million dollars
Buenos Aires, Apr 19 (.).- Argentina placed this Wednesday in the domestic market Treasury bills and bonds in Argentine currency for a total effective value of 227,132 million pesos (about 1,044.3 million dollars), official sources reported.
As specified by the Argentine Ministry of Economy in a statement, in the operation on Wednesday Treasury Liquidity Bills were placed with maturity on May 19 and a nominal annual rate of 75% for 27,373 million pesos (about 125.8 million of dollars).
Likewise, 2 series of Treasury bills were placed with returns tied to inflation: one for 132,215 million pesos (607.9 million dollars) maturing next July and another for 27,812 million pesos (127.8 million dollars). dollars), maturing in September of this year.
Treasury bills maturing in July and an annual nominal yield of 95.08% were also tendered, for 8,330 million pesos (38.3 million dollars).
Meanwhile, Treasury bonds maturing in July were placed, for 14,105 million pesos (64.8 million dollars), and Treasury bonds maturing in April 2024, for 13,323 million pesos (61.2 million dollars). dollars), both instruments with returns tied to the price of the dollar.
Finally, an inflation-adjusted Treasury bond was placed, maturing on August 13, for 3,975 million pesos (18.2 million dollars).
This Wednesday was the first of the 2 tenders scheduled by the Ministry of Economy for April, in continuity with the strategy of resorting to the domestic market launched in 2020 and ratified in the extended facilities program sealed with the International Monetary Fund ( IMF), in March 2022.
The objective of these tenders is to obtain financing to face the successive maturities of Treasury debt and, in addition, capture the liquidity of Argentine pesos and thus decompress the demand for the purchase of dollars by investors for hedging purposes.
In the agreement with the IMF, Argentina promised to limit and gradually cut assistance to the Treasury by the Central Bank, so the search for financing in the domestic market has become even more fundamental.
As stated in the 2023 Budget, the Treasury will continue to go to the local debt market this year to obtain financing equivalent to 2.7% of gross domestic product (GDP).
