Argentina borrows from state entities to pay debts

Argentina borrows from state entities to pay debts

Corporate & Sovereign Strategy Debt Bonds Capital Markets Asset Management Fixed Income Economy & Policy Funds Politics Argentina

Argentina's Finance Ministry said on Wednesday that it would raise more than ARS32bn ($543m) from two state entities to pay debts that come due this year, a move that one economist said would calm creditors of a potential default. The ministry said it will borrow up to ARS30bn from the state-owned lender Banco Nación at Badlar, or what banks pay for 30- to 35-day deposits of more than ARS1m, corrected by a factor of 0.84 plus a spread of 100bp, according to a statement in the government's offici

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial