In search of cleaning up the balance sheet and to pay 60% of a coupon on another Treasury bill issued by the BCRA, the Ministry of Economy extended a treasury bill maturing in 2029.
He Ministry of Economy ordered the expansion of the issuance of the Treasury bill in dollars maturing in 2029, originally issued on April 3, 2024. The amount is US$42,379,472 to be delivered to the Central Bank accruing interest from the date of placement.
According to Joint Resolution 29/2024 with the Ministry of Treasury and Finance, the measure is taken because on June 3 of this year the eighth interest coupon of another Treasury Bill maturing in 2025, in the portfolio of the Central bank. In order to cancel that coupon by 60%, the extension of the Treasury Bill to 2029 is provided.
This measure, according to the document, comes into effect as of its issuance.
Debt: the Government expanded by decree the issuance of Treasury Bills for $35 billion maturing in 2024
He Executive power expanded 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.” Billions in Argentina are millions of millions.
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 enactment 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.
Source: Ambito
