The Minister of Economy, Martin Guzmananticipated that the board of the Central Bank is meeting to adopt new measures on the public debt in pesos.
“The Central Bank has given a very clear message in this regard: it has said “we will do absolutely everything that needs to be done to ensure that public bonds in pesos are a safe instrument”, he introduced during an interview granted to Ernesto Tenembaum in radio with you
And he expanded: “At this time, the Central Bank is meeting and actions are being carried out to strengthen the public debt market in pesos.”.
As anticipated, Measures will be implemented so that the bonds in pesos are not only safe at the time the coupons or principal amortization are collected, but also at the time that the holders need to obtain pesos before the maturities. “The idea is that you can sell them without this implying that you have to mark losses,” the official anticipated.
Guzmán announced that his administration will work to convert the bonds in pesos into the safest titles of the Argentine economy.
With these measures, the Government will seek to clear up the uncertainty that has gripped the public debt market in the last two weeks and caused significant declines in bonds, especially those that are indexed to the rate of inflation.
The minister also referred to versions that indicate that the main candidates for President of the opposition have decided to restructure the debt in pesos in case they win the elections next year: “Those rumors are not credible, they are not consistent”.
“No matter who governs Argentina, from now on there will be no other alternative, if we want to be a serious Republic, than to strengthen the credit market in pesos.”, he added.
At the same time, the Central Bank is also working on a battery of measures to tighten the trap for dollar outflows after Vice President Cristina Kirchner warned of an “import festival.”
Almost at the same time as the official was speaking and an hour before the Argentine market formally opened, the BCRA released communication A7532 detailing a series of modifications that financial entities and exchange houses should observe in particular.