Argentina will hold its second and last tender session of the month this coming Wednesday. The Ministry of Finance will offer a series of instruments and Treasury bonds to renew debt maturities. In the first session, the office led by Federico Furiase awarded a total of 10.42 trillion pesos, having received bids for 12.90 trillion pesos, representing 108.09% of the offers. From March 23 to 27, various data and indicators will be released that will have a direct impact on Argentina's economy. "As long as we have options, we will continue to prioritize the cheapest one," was indicated. "What is coming is phenomenal, a boom that no one can imagine," Caputo said about investments. The National Institute of Statistics and Censuses (INDEC) will release a battery of data with a direct impact on the real economy. Among the most prominent are the Monthly Estimate of Economic Activity (EMAE) and the salary index, both corresponding to January. The former concluded with a growth of 4.4% in 2025: it increased 1.8% monthly and 3.5% year-on-year, where twelve of the sixteen sectors that compose it registered increases. Regarding the latter, it ended the last year with an increase of 38.2%, remaining 6.7 percentage points above inflation in that same year. Although these are the two most outstanding data, the agency led by Pedro Lines will publish other reports: International Tourism (February), Pharmaceutical Industry (fourth quarter 2025), Agricultural Machinery (fourth quarter 2025), and Balance of Payments (fourth quarter 2025). This week, the Central Bank bought US$485 million in the wholesale market, marking the largest purchase of the month: it acquired US$172 million, the largest positive balance since February. So far in March, it has bought US$1.071 billion and has had 50 consecutive rounds of interventions in the Free Exchange Market (MLC). Thus, the BCRA has already acquired more than 37% of the target set in the "phase 4" of the monetary program: it has acquired more than US$3.786 billion of the total US$10.000 billion it proposed to buy in 2026. In this context, the dollar closed the week above the $1,400 mark and resumed its downward trend from the last week of February. At the same time, the issuance of the dollar-denominated bond AL27 continues, which will serve to pay the July maturities of US$4.500 million. This week, the Minister of Economy Luis Caputo assured having sufficient funds to face the next three maturities: July of this year and January and July of 2027, which total approximately US$9.000 million. In the same vein, he ruled out a return to international debt markets, in a context where the country risk exceeds 600 basis points. "There is no whim with Wall Street, it is a cost issue. This meant a rollover of 108.09%.
