The Finance and Treasury Secretariats of the Ministry of Economy have authorized the issuance of up to 16.5 trillion pesos and 1.5 billion dollars in four series of Treasury bills. These funds are intended to convert public securities held by the Central Bank of the Argentine Republic (BCRA) that mature on December 15. According to information from the Argentine News Agency, the conversion operation was settled on December 9 and allowed the Treasury to refinance short-term maturities by exchanging three instruments: BONCAP T15D5, BONCER TZXD5, and BONAD TZVD5. In exchange for the bonds maturing this week, the BCRA will receive a basket composed of three peso-capitalizable bills with staggered maturities in February, April, and October 2026, plus a dollar-linked bill maturing next January. Joint Resolution 61/2025 details that the expansion reaches 5 trillion pesos for the LECAP with a February 2026 maturity, another 5 trillion for the April series, and 6.5 trillion for the October series.
