The national government, through the Central Bank (BCRA), announced new actions for ROBUSTATE THE LEVEL OF INTERNATIONAL RESERVATIONS. In an official statement, the monetary authority reported that this Wednesday a New type financing operation Repo for up to $ 2,000 millionas part of its program with international financial entities.
In addition, the Ministry of Finance of the Ministry of Economy will incorporate, as of June, a new modality within the debt tender schedule by 2025: direct subscription in dollars. This tool will be oriented to maturity with maturities exceeding one year and It will have a monthly stop of up to US $1 billion.
The decision responds to the marked interest that aroused among foreign investors the placement of Bonte 2030 at the end of May, which motivated the economic team to enable this route of financing in hard currency on a regular basis.
As a complement, the BCRA also confirmed the elimination of the minimum permanence deadlines for non -resident investors who channel their funds through the free market (MLC) or participate in primary treasure emissions with maturities greater than six months. This measure aims to facilitate the entry of abroad capital and improve the depth of the market.
It should be remembered that the first tender of the program of Rest With international banks it was made in December 2024 and allowed to obtain US $1 billion. In this new stage, the operation scheduled for June 11 contemplates a Expansion of up to US $ 2,000 million. At the moment, the BCRA has not announced the details of the operation or the names of the participating financial entities.
New scheme for Treasury tenders: Focus in short deadlines, dollars in dollars and greater liquidity
The Ministry of Economy announced the guidelines that will govern the next tenders of national treasure titles, with the aim of strengthening the financing in local and foreign currency, and consolidating a prudent debt management strategy.
Short -term instruments
In each tender, capitalizable letters (LECAP) will be offered at a fixed rate, with maturities to one, two and three months. These emissions will seek to meet the demand for short -term instruments and provide predictability to investors.
Medium and long term titles
Depending on the conditions present by the market, titles with maturities will be tendered more than one year under different modalities: fixed rate, adjusted by CER, linked to the monetary policy rate (tamar), dollar Linked and called hard currency (Hard Dollar). This diversity of instruments will allow expanding the expiration horizon and sustaining prudent debt profile management.
Subscription in dollars
The possibility of subscribing titles with maturities greater than one year will be enabled through dollars. This option will be available for both local and foreign investors, with a monthly limit of up to US $ 1 billion.
Impulse to secondary liquidity
With the purpose of ensuring the negotiation of the instruments issued, Each title will have a minimum volume that guarantees its liquidity in the secondary market. In addition, the Central Bank may actively intervene in that segment – especially in short -term titles – when it considers that its participation is necessary to preserve the normal operation of the capital market.
Source: Ambito
