The decision to issue new dollar bills is a strategic move by the Government seeking to ensure the sustainability of its debt and maintain the functioning of public finances.
The Ministry of Economy authorized the issuance of a new National Treasury Bill in dollarsexpiring on February 17, 2025. This measure is based on the legal and regulatory framework of Law 27,701, which corresponds to the 2023 Budget, and on various decrees, including Decree 280/2024, which regulates key aspects of the country’s financial management.
In this way, and according to the Joint Resolution 27/2024 of the Ministry of Finance, maintains that the Treasury bill will be issued for a nominal value of up to US$1,196,910,915.78 (one billion one hundred ninety-six million nine hundred ten thousand nine hundred fifteen with seventy-eight cents) with a term of 180 days. The issue date will be August 21, 2024 and its maturity will be February 17, 2025.
It also states that the issuance, subscription and payment of the bill will be made in US dollars. The subscription price will be US$992.6 for every US$1,000 nominaland will be fully amortized at maturity without any interim payments. In addition, the bill will be issued at a zero coupon, i.e. at a discount.
Characteristics of the Letter
The minimum denomination will be 0.01 US dollars. The placement will be made directly to the National Public Sector, as established by law. Ownership will be documented through a certificate deposited in the Central Registry and Settlement of Public Liabilities and Financial Trusts (CRYL) of the Central Bank of the Argentine Republic. The bill will enjoy all tax exemptions provided for by current laws.
It should be noted that the issuance of this Letter will allow the Government to obtain the necessary funds to finance its expenses and is a strategy to refinance the existing debt and possibly improve payment conditions.
Source: Ambito
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