The amount will be for an additional $35 billion, within the framework of the “strategy to reduce monetary emission via rotation of Passes to Treasury Bills”
He Executive power expands the issuance of letters of Treasure letters maturing in 2024 for an additional $35 billion, within the framework of the “strategy to reduce monetary issuance via rotations of Passes to Treasury Bills.”
In this way, through Decree 459/2024 published in the Official Gazette, it explained that “it is necessary to adjust the amount determined in the regulations cited in the preceding considering” and clarifies that, “the exceptional nature of the situation raised makes it impossible to continue the ordinary procedures provided for in the NATIONAL CONSTITUTION for the sanction of laws”.
Treasury bills: the details of the new regulations
- The authorization to issue is expanded by the sum of $35 trillion Treasury bills repayable during Fiscal Year 2024, provided for in article 38 of Law No. 27,701 on the General Budget of the National Administration for the Fiscal Year 2023.
- Authorized to issue Public Debt Instruments until reaching a maximum amount of 30 billion, to face issues due to renewal of maturities that occur during the end of Fiscal Year 2024 and whose maturity exceeds the current fiscal year and is less than NINETY (90) days.
- The measure will come into force as soon as it is published in the Official Gazette.
The decision was made with the signature of President Javier Milei and his ministers and officials Nicolás Posse, Guillermo Francos, Diana Mondino, Luis Petri, Luis Caputo, Mariano Cúneo Libarona, Patricia Bullrich, Mario Antonio Russo and Sandra Petovello.
Public debt: in April it increased by US$11,000 million and in the year by US$43,383 million
Despite payments to the IMF and other creditors, the Public debt does not stop growing: It has been doing so at a rate of US$10 billion per month.
According to the latest data for April, “compared to the previous month, The debt in a normal payment situation increased by the equivalent of au$s11,019 million, representing a monthly growth of 2.75%. The variation is explained by the decrease in debt in foreign currency in US$2,245 million and the increase in debt in local currency for an equivalent amount in dollars of US$13,264 million,” reported the Secretary of Finance.
Data from the Secretary of Finance shows that so far in 2024, Public debt went from the equivalent of US$370,673 million to US$414,056 million: an increase of US$43,383 million.
Source: Ambito
