The Government has the 82% of dollars needed to face the debt maturities in dollars with private creditors in 2025according to reports from the Central Bank (BCRA) analyzed by private consulting firms.
The consulting firm Aurum specified that “Treasury dollar deposits in the BCRA are equivalent to 82% of the total maturities in dollars with the private sector for the entire year 2025.”
The total maturities are estimated at almost US$7,000 million, of which US$5.7 billion are already deposited in the Treasury account in the BCRA. This debt is the most relevant for the Government, since it is expected that there will be no major problems for the renewal of obligations with the IMF and the repayment of quotas with international organizations.
Total maturities with private companies in 2025
The total debt commitments for 2025 are close to US$15 billion, of which a third must be paid in the first months of the year. In the first weeks of 2025, There will be payments of US$5,000 million. Holding Treasury dollars in the BCRA is key to facing these payments.
According to a report from the Congressional Budget Office (CPO) in January 2025, payment commitments include:
– AL29, AL30 Bonds; AL45, AL38 and AL41 for US$1,226 million in capital and US$473 million in interest.
– Global bonds in euros by US$114 million of capital and US$55 million of interest.
– Global bonds in dollars (GL29, 30, 35, 38, 41 and 46) for US$1,475 million in capital and US$998 in interest.
– There are also expirations with multilateral organizations by US$300 million of capital and US$158 million of interest. Institutions such as the IDB or the World Bank are expected to make already scheduled disbursements of agreed credits that would offset these payments. In turn, interest on bills in dollars from the Central Bank must be added for US$202 million.
To these maturities in dollars, are added maturities in pesos during January $14.8 billion between principal and interest of different bonds and bills.
Among them, the expirations of: a dual bond for $8.9 billion. A Lecap of $2.8 billion, another for $1.7 billion and a temporary advance from the BCRA to the Treasury of $647,000 million. It is estimated that a good part of this debt in pesos will try to be refinanced with the placement of new securities.
Source: Ambito
