The government raised AR$464 billion through peso securities in the local market in an off-schedule auction that took place on Friday. The goalwas to finance the relief measures announced last week to counterbalance the economic impact of the 22% devaluation the government implemented the day after the primary elections. Among the measures announced by Economy Minister Sergio Massa last Sunday are bonuses and loans for workers, pensioners and welfare recipients, as well as price freezes and tax breaks for farmers and the self-employed, among others. “Almost all of the awarded bids came from the private sector, with the participation of a broad base of investors, which made it possible to obtain financing in excess of the expected $100 billion,” added Setti. Economist Leandro Ziccarelli said on Twitter that the collected amount is “a little more than half of what the measures announced over last weekend will cost.”As per the current schedule, the next auction will take place on September 14.

Source: Bueno Aires Herald September 02, 2023 19:02 UTC