And he continues: “Argentina once again had its domestic market. The refinancing rates were growing and were above 100% already in the second half of 2020, which allowed obtaining extra financing of $386,727 M, equivalent to 19.2% of total maturities for the year“.
In the breakdown of resources, the Treasury explains that “during 2021 this trend continued and Extra resources were obtained for $746,042 M. This process was key to solving the public policies deployed to deal with the Pandemic, which in 2021 alone required an expenditure of $420,000 M, which represents 0.9% of GDP”.
Given this, the Ministry sent a message: “To question the indebtedness in pesos -with the aforementioned restrictions- is to ask for a fiscal adjustment in the midst of a double crisis (the debt crisis and the coronavirus), which in the vision of the current economic leadership would be recessive and harmful to the economic activity”.
“It was between December 2015 and December 2019, when the external debt (public debt denominated in foreign currency) grew by more than USD100,000 million. Debt that was taken in dollars and can only be paid in dollars”, add the twitter thread.
Finally it concludes: “The current government did not borrow dollars. On the contrary, in 2020 two foreign debt restructuring operations were carried out that generated savings of USD34.8 billion for the Argentine Republic for the 2020-2030 period.”
Source From: Ambito
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