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Government expands issuance of bill to pay coupon expiration

According to Joint Resolution 3/2024 published in the Official Gazette, the instrument was issued on January 3 and the extension for the payment of coupons is authorized.

Ignacio Petunchi

He Ministry of Economy together with the Secretariat of Treasury and Finance, he ordered the expansion of a Treasury bill issued in dollars due on January 7, 2034. According to the Joint resolution 3/2024 published in Official bulletin, The instrument was issued on January 3 and the extension is authorized for the interest payment.

The document clarifies that the expansion being promoted is within the limits established in the attached form of article 37 of law 27,701, with the modifications provided in articles 5 of decree 436/2023, 2 of decree 56/2023 and 1 of decree 23/2024, in force in accordance with article 27 of law 24,156 and its amendments, in the terms of decree 88/2023.

The extension of the bill maturing at January 7, 2034 then it was expanded by an amount up to VNO US$38,399,693.13 which will be placed at par with the Central Bank and will accrue interest from the date of placement. Authorization for this procedure was signed by Pablo Quirno Magrane and Carlos Jorge Guberman both Secretaries of Finance and Treasury.

Debt: the next economics test

He Ministry of Economy announced that it will tender on Tuesday three debt securities that are adjusted for inflation and have maturities scheduled for February and May of this year, and November 2025. It’s the first test of the month for Caputo, after having a good result with the import bonus.

The offer includes a Lyrics adjusted by CER (price variation) at a discount due on February 20, and another, with similar characteristics, but payable on May 20. The third title to be tendered is a bonus also adjusted by CERwith a surcharge of 1.80% and maturity on November 9 of next year.

In December, the first tender with Javier Milei As president, debt worth US$2.96 trillion was placed on a rate of 8.66% lower than expected by the market. The aggressive stance of the Ministry of Economy is destined to liquefy this enormous volume of pesos, most of which have strong restrictions on converting to dollars.

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