The Government confirmed today its commitment to pay the scheduled debt maturities for next January, thus sending a message of reassurance to creditors. In this regard, the Treasury announced that it has initiated a purchasing process from the Central Bank of the Argentine Republic for a total of US$ 2.701 billion. This amount will be used to cover the payments in dollars and euros corresponding to the capital amortization of the Global and Bonares bonds maturing in January 2025.
The Secretary of Finance, Pablo Quirno, detailed that this operation will be carried out using part of the pesos held by the Treasury that are deposited in the BCRA, which amount to $13.26 trillion as of October 27, 2024. According to Quirno, this transaction guarantees the payment of capital and interest for January 2025 and will result in a contraction of $2.67 trillion in the amount of pesos in circulation.
The news was positively received by the market, which anticipated this announcement. As a result, bond prices have experienced an increase in recent weeks. Additionally, the country risk has decreased and is expected to fall below 900 points, according to estimates from financial analysts.
