Argentina will buy back foreign bonds equivalent to more than US$1 billion to improve the country’s debt profile and help access the capital market, Economy Minister Sergio Massa said on Wednesday (18).
The measure will focus on sovereign bonds maturing in 2029 and 2030, added the minister, with the program set to start immediately, as the country looks to take advantage of a “window of opportunity” after the risk index falls.
The unusual move, which Massa said could help boost the country’s access to capital markets, comes as Argentina struggles to replenish foreign currency reserves, contain rampant inflation and sustain a weakening local currency. , the weight.
In recent years, Argentina has restructured more than $100 billion in debt with private creditors and the International Monetary Fund (IMF), with which it closed a $44 billion deal last year to postpone payments.
Source: CNN Brasil
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