Government Extends Letters, Extends Borrowing Term and Secures New Debt With IMF

"In agreement with the opposition, we will start the dialogue with the IMF to revive the debt maturities," he said. After saying that he would seek to "reperfil" the debt with this agency, he stressed that his intention was to achieve "without paying interest".

He also announced that he would send to Congress a bill to extend the terms of the debt between local holders, as well as those with a foreign jurisdiction, to dispel doubts about the deadlines from 2020 to 2023. The proposal "It does not include the removal of capital or interest," he warned.

The first measure was linked "Lengthen the maturities of short-term debt both in Letos and in Lecap," said the minister. It has also been announced the launch of a process of extending the terms of foreign currency bonds. The minister said banks would be invited to mobilize investors.

The measures came a day when the greenback reached $ 1.51, or 2.6%, in the banks and agencies of the city of Buenos Aires. It should be mentioned that on Wednesday, the Central Bank intervened early and ended up selling about $ 367 million in reserves through seven bids.

The minister confirmed that his goal was to guarantee economic stability, while stressing that "no government can stand alone and less during an election period". "The president has entrusted a central mandate, taking care of the Argentines, especially in these times of financial stress and exchange rate," said the official.

In addition, he criticized the fact that "any recklessness is expensive" and said: "No government can alone and less during the election period". He called for a "protection campaign on the financial system" between different political spaces.