During June, The provinces faced debt maturities totaling $432.515 millionof which 59% were in national currency and 41% in dollars.
This is highlighted in a report by the consulting firm Politician Chacowhich indicates that there was a increase in the commitments of the provinces and the City of Buenos Aires of 309% nominal annual. In real terms, it would have risen by 10%.
The most important part of the increase responds to bonds in pesos, since Those issued in dollars rose slightly compared to June last yearIn nominal terms, debt maturities grew by 79.5% compared to May.
The report highlights that “the 53% of the month’s maturities correspond to Treasury Billswhile the remaining 47% were Bonds.”
When breaking down the maturities, according to the currency of payment, it is highlighted that 59% was in pesos, for $256.721 million which include bonuses dollar linked, Meanwhile he 41% was in foreign currency, for US$195 million.
The fact to highlight is that the maturities in dollars In June 2023, they were worth US$191 millionthus increasing by US$4 million in one year.
On the other hand, in the cumulative total for the first semester, Maturities totaled $1.91 billion, which represents an increase of 309% compared to the same period in 2023indicating a real increase of 12%.
Of this total, the 54% corresponds to Bonds and 46% to Treasury Bills. Furthermore, 44% is explained by instruments denominated and paid in foreign currency; while 56% to instruments paid in pesos.
As seen by subnational jurisdictions, the 55.5% of the commitments are concentrated in the province of Buenos Aires, for $1 billion; In second place was Córdoba with 9%, for $171.720 million and the podium was completed by Chaco with 7.8%, for $150.155 million.
Last month Only two provinces made placements in the market for a total of $185,962 million, 35.3% less than in May, but 198.1% more than in the same month last year.
The province of Buenos Aires was the district that made the largest placement with a total of $169.210 million accounting for 91% of the total for the month. The instruments were:
- Treasury Bills Tranche 6 at 56 days (LB4G4) for $37.2 billion (at a discount).
- Treasury Bills Tranche 6 at 91 days (LBS24) for $105,621 million (at discount).
- Treasury Bills Tranche 6 at 175 days (XBD24) for $19,296 million (at a discount adjustable by CER).
- Treasury Bills Tranche 6 at 211 days (XBE25) for $7,093 million (at a discount adjustable by CER).
For its part, Chaco awarded a total of $16,752 million (9% of the month) in the following instruments:
- Class 16 Treasury Bills at 28 days (BL4L4) for $13,934 million (annual nominal fixed rate of 46.25%).
- Class 17 Treasury Bills at 63 days (BL2G4) for $2,678 million (annual nominal fixed rate of 49.0%).
- Class 18 Treasury Bills at 182 days (BLD24) for $140 million (fixed annual nominal rate of 60.0%).
Source: Ambito
