The Economy Ministry launched a voluntary debt swap that aims to defer debt maturing between June and September to 2024 and 2025. According to official calculations, the total amount is AR$9.2 trillion (US$37 billion at the official exchange rate, US$20 billion at the MEP rate). Private consulting firms estimate it to be around AR$9.5 trillion, of which at least 70% is held by the public sector. There are four new instruments – a BONCER that matures in December 2024 and three new dual bonds that mature in August 2024, November 2024 and January 2025. Of the 25-30% held by the private sector, a report calculates that 8% is in the hands of mutual funds and 7% in private banks.

Source: Bueno Aires Herald June 07, 2023 05:30 UTC