It should be remembered that in the next few days the government plans to advance with the repurchase of non -transferable letters using part of the funds from the IMF loan.
The Secretariat of Finance and the Ministry of Finance They formalized the expansion of the issuance of a NATIONAL INTRANSFERIBLE TREASURE LETTER IN DOLLARS to face the payment of debt interest with the Central Bank of the Argentine Republic (BCRA). The measure was published on Monday in the Official Gazette through the Joint resolution 19/2025.
The operation responds to the provisions of article 9 of the Decree 1104/2024which authorizes the partial replacement of cash debt payments for the delivery of new public titles.
It should be remembered that in the next few days the government plans to advance with the Intransferable letters using part of the funds from the IMF loan. However, Before specifying that operation, continues to expand the issuance of letters to refinance a portion of the interests owed to the Central Bank.
Debt: Expansion details
The Government will issue an additional amount of U $ S678.143 of the “Intransferable National Treasury letter in US dollars expiration on January 7, 2030”, originally created by means of Joint Resolution 1/2025.
The new titles will be delivered to Central Bank At the same time, interests will accrue from the date of placement and will have a full amortization period to the expiration. The interest rate that will be applied will be linked to the performance of International BCRA reservationswith a maximum stop that adjusts in relation to the rate Sofer Ter plus an adjustment margin, except a percentage point.
The decision is part of the current scheme that seeks to administer the financial needs of the National Treasury. As planned, 60% of the interest services of the non -transferable letters will be canceled by delivering new titles, while the remaining 40% will be paid in cash.
The measure has as a history the next cancellation of the Eighth Coupon of Interest of an non -transferable letter with expiration in April 2026, originally issued in 2016 under the management of the then Ministry of Finance and Public Finance. In addition, the authorities stressed that the operation is within the limits authorized in the Budget Law 27,701 —That is governed by 2025 by extension -, and complies with the regulations of the public credit system established in Law 24,156. The measure entered into force since its dictation, on April 24, 2025.
Source: Ambito
