Argentine government says local debt swap was “very successful”

One swap in debt in coin local from Argentina he was completed “very successfully,” said a spokesperson for the government this Thursday (8), while the country seeks to maintain state finances in the midst of inflation in 109% and dwindling foreign exchange reserves.

Part in a broader effort to restructure the debts of government and avoid default, the operation is estimated by analysts at around in 10.2 trillion in pesos ($42 billion) in assets in debtwith little less than the goalin in hands in private investors.

“Today we made the biggest swap in debt of Argentina’s history in the domestic market,” said Eduardo Setti, secretary in Finance, on Twitter, adding that this would help settle the second semester’s maturities.

the spokesperson of government, Gabriela Cerruti, said what O swap he was “very successful”, although it did not release the results incarved.

“It completely liquidates the debt in pesos in the second half,” she said, adding what O government has the expectation in what it helpsin negotiations this month with the International Monetary Fund (IMF) to reformulate the program in loans of US$ 44 billion dthe country.

The IMF welcomed the change of debt from Argentina this Thursday, adding what the operation income to safeguard the sustainabilityin from the debt.