Eduardo Setti, Secretary of Finance, announced that the Treasury “will continue to consolidate” the process of buying back bonds in dollars during this Tuesdayas a result of the drop in the price of these titles.
“The Fed rate hike generated a situation of general fall in emerging markets which gives us an opportunity to further consolidate the buyback process. Today we will be present in the market with 20% within the announced program, ”Setti wrote on his Twitter account.
Debt repurchase: the doubts of economists and bankers
Global bonds in currency under foreign law and that are part of the repurchase process recently announced by the Ministry of Economy, for a total of US$1,000 million, suffered falls close to 7% accumulated in the last two rounds on Wall Street.
In this context, the Palacio de Hacienda will proceed to buy bonds for another US$ 200 million, according to Setti. Until now, the portfolio in charge of Sergio Massa spent 37.4% of the US$ 1,009 million of international reserves for the dollar repurchase operation announced by the Tigrense.
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