The Treasury extends its maturity in the short term and will seek to rebalance its debt with the IMF – Telam

The Minister of Economy, Hernán Lacunza, announced that he would seek to postpone the payment of the debt issued by the country and that it is incumbent on both private investors and the IMF "d & # 39; To reduce the financial burden in the short and medium term ".

"We want to agree with all the political forces of a protection campaign" which not only brings certainty to the financial sector ", but also to the entire population," said Mr. Lacunza during the meeting. A press conference on the occasion of which he was accompanied by his cabinet and some legislators. change

He stressed that "no government can act alone, except during an election period" and announced four measures as part of the protection campaign, some of which require Congressional approval.

The first measure announced was the extension of the maturities of short-term debts, that is, Treasury bills (Letes) and capitalization bonds (Lecaps), as well as that of the Treasury. Lecer (letters annexed to the CER) and the letters related to the dollar (Lelink) and other issued by the Central Bank for the "institutional holders, with the exception of persons, who will eventually invoice and will each form these deadlines ".

Lacunza announced new economic measures

"The measure aims to lighten the state's burden of having to pay maturities of its debt which, until before PSO, were renewed at 88% then dropped to 10%," said Mr. Lacunza at the press conference.

That day, the Ministry of Finance had to refinance about 2.6 billion US dollars in pesos and dollars that have expired today, an operation that was abandoned.

According to calculations, natural persons would only hold 15% of the total, the remaining 85% being held by institutional investors.

The Treasury said that at each maturity, 15% would be paid on the expiry date, 25% at three months and 60% at six months and that "each security would benefit from its corresponding rate until the end of the year. on the date of payment ".