Argentina has reduced its public debt by 12.810 million dollars

The Argentine Republic on Tuesday reduced its public debt in foreign currencies by a total of US $ 12,810 million. after making payments of a total amount of $ 2,615 under repurchase agreements with several financial entities, according to the Ministry of Finance.

One of the first measures of the new Minister of the Economy of the Nation, Hernán Lacunza, was to buy back a debt through operations during which BONAR 2024 for 5 948 million US dollars, BONAR 2025 for US $ 4,019 million and BONAR 2037 were canceled. for a capital of $ 2,842 million, said finance officials.

The government therefore had to repay US $ 2,615 million in loans. This is because these credits, called REPOs, were backed by guarantees that sank after the STEP.

By contract, when these securities fell below a certain level, the state was obliged to return the money. And the banks have claimed it.

Among the banks that lent funds to the government under this modality, whose objective was to strengthen the reserves, included, among others, Credit Suisse, BBVA, Santander and HSBC.

The REPO funds were initially opened in June 2016. In addition to the bond guarantee, the State paid a Libor rate plus 290 points over a period of 18 months. Then they renovated. In December 2018, he was already paying 550 more libors.

I knew the value of the dollar in Dollar Today and followed minute by minute the price and the behavior. CLICK HERE

Discover the latest news in the digital economy, startups, fintech, business innovation and blockchain. CLICK HERE