October 21, 2020 |
Argentina is preparing to sell $750 million in US dollar-denominated bonds on the local market, a latest measure to try to deter capital flight that has been bleeding international reserves and weakening the peso. In a statement on Monday night, the Economy Ministry said the proceeds of the bond issue — no details were provided — will go toward reducing its financing needs in 2020-21. The bond issue will be announced November 2 and will be sold at auction on November 11 and 12, it added.
Proposed $750 mln deal is among a raft of measures to reduce peso liquidity and stem a flight to dollars