The Bill provides for the total cancellation of the intra-public sector debt through the transfer to the Treasury of the securities held by National Public Sector (NPS) entities, including the Sustainability Guarantee Fund (FGS), which would be eliminated.

The total stock of securities held by the NPS and FGS entities as of December 31, 2023, amounted to the equivalent of USD41.173 billion, most of them payable in pesos.

  • After consolidation, the total stock of public debt denominated in dollars would fall to USD327.299 billion.
  • At year-end 2023, 70.9% of the FGS’s asset portfolio consisted of public debt instruments.
  • The consolidation of the FGS’s holdings would reduce public debt by the equivalent of USD38.043 billion.
  • Of the holdings subject to consolidation, 92.4% belong to the FGS.
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