President Alberto Fernández assured this Monday that The call for a voluntary exchange of debt in pesos for securities maturing in the second quarter of this year will bring “tranquility” to the financial markets, since it will make it possible to form “an accurate and sustainable debt program” for the future.
In that sense, he pointed out that the call for a voluntary exchange of nearly $7 billion in National Treasury securities that expire between April and June, and that is currently distributed in similar parts between public organizations and the private sector, will allow a “improvement of the local debt profile” and put an end to “the myths that announced that there was a debt bomb that was going to explode.”
“The local debt profile improvement program gives confidence and protects Argentine savings. It strengthens the position of the State and gives us the peace of mind of being able to think of Argentina with an accurate and sustainable debt program”said the President in a message on his Twitter account.
Thus end the myths that announced that there was a debt bomb that was going to explode. Those who “reprofiled”. The usual doomsayers. The same people who irresponsibly generated this debt are the ones who are now trying to sow fear in the markets.
We know what we must do.– Alberto Fernandez (@alferdez) March 6, 2023
“This is the end of the myths that announced that there was a debt bomb that was going to explode“, said Fernández, who pointed against “those who ‘reprofiled'” the debt, referring to the compulsory exchange of debt maturities in pesos that the administration of Mauricio Macri applied at the end of his term in 2019, to avoid having to pay off that debt.
“The usual doomsayers. The same ones who irresponsibly generated this debt, are the ones who now intend to sow fear in the markets. We know what we must do,” said the head of state.
