Economía approached the banks with the proposal to exchange the debt in pesos from the Treasury. This is what is known so far.
The Minister of Economy, Luis Caputo, received a group of bank representatives to analyze alternatives to the debt crisis. As revealed by the news agency Bloomberg and as confirmed by sources in the sector Ambit, the meeting took place he Thursday, January 4 at 6:00 p.m. in the Treasury Palace.
The meeting was the first step of the proposal that the national government is evaluating approaching the banks to launch a mega debt swap in pesos of the Treasury.
Although the Government assured this medium that “there was, nor is there, any specific proposal”they did recognize that what was done at that meeting was to present the economic program and “ideas were exchanged on liability management.”
The objective of the call to banks
In short, we sought to have a thermometer of the sector to present the situation and listen to their expectations in this regard regarding an eventual debt mega swap in pesos.
The proposal being analyzed would include all debt maturities in local currency scheduled for this year, which today are equivalent to around $57 billion (about US$71,000 million) in bonds in pesos, with the objective of “kick them by 2025.” The Government’s objective is to bring maturities to zero.
However, the Government anticipated that the exchange would be voluntary and the bonds will be tailored to the banks’ needs.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
