OPC 5 Public Debt 5 Public Debt Operations – February 2020

Public Debt Operations – February 2020

March 12, 2020

Government securities and loans for USD3.48 billion were placed in February and interest payments were made for the equivalent of USD704 million, of which USD376 million were paid to the International Monetary Fund.

After several attempts to swap and refinance the payment of the BONAR DUAL 2020 for an estimated amount of AR$109.3 billion (USD1.75 billion), the government postponed to September the payment of USD1.18 billion.

The process of debt restructuring under foreign law advanced in February, with the enactment of the Law for the Restoration of the Sustainability of the Public Debt under Foreign Law, the meetings of the Ministry of Economy with representatives of the International Monetary Fund (IMF), and a statement on the subject made by the Minister to the Chamber of Deputies.

Debt service payments of USD7.5 billion (USD6.47 billion on principal and USD1.03 billion on interest) are expected for March, which amounts to USD67.13 billion if maturities that will occur between March and December are included.

Excluding maturities within the public sector, estimated services for the term are reduced to US$34.40 billion, 49% in domestic currency.

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