Argentina is starting a record swap of peso-denominated debt in a bid to roll over almost all of its 2024 maturities into the next four years, providing a temporary respite to President Javier Milei’s government.Extending local debt maturities would reduce the need to print pesos to cover all of Argentina’s local debt payments in 2024, helping to stabilise the currency and potentially stamping out some inflationary pressures. The record size of the operation will be seen as a test of local market confidence in Milei’s economic programme.
March 11, 2024
SOURCE: BUENOS AIRES TIMES
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