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Argentina to pay maturing debts in third quarter with central bank reserves

Saturday, July 7th 2012 - 00:58 UTC
Full article 7 comments

The Argentine central bank will affect 4.165 billion dollars from the bank’s freely available reserves to honour government debt maturing in the third quarter, it was officially announced. Read full article

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  • Chicureo

    Sort of like “check kiting” paying one debt with one account and then using another account to pay that one...

    Great hint for investors: sell short Argentine bonds...

    Jul 07th, 2012 - 01:31 am - Link - Report abuse 0
  • ElCuraF

    #1: Bonds 2012 are paid from the treasury, and the government gives the Argentine treasury notes such debt. Bonds 2012 by 70% belong to foreigners, but the new debt will be the state with the same state. To me, it seems perfect.

    Los bonos 2001/2002 se pagan con dinero del tesoro, y el gobierno le entrega al tesoro argentino esas notas de deuda. Los bonos 2001/2002 pertenecen en un 70% a extrangeros, pero la nueva deuda será del estado con el mismo estado. Me parece perfecto.

    Jul 07th, 2012 - 02:34 am - Link - Report abuse 0
  • yankeeboy

    because it means the end of the 2001/2002 default commitments..um except for the holdouts, Defaulted Paris Club debt and ICSID judgments...shh maybe no one will mention that!

    AND teh kicker...Arg Treasury is paying 12-13 pts BELOW what the Int'l mkt charges Argentina if they could issue a U$ denominated bond...that's a great rate! Seems like Rgs need some crisco and they don't even know it!
    losers

    Jul 07th, 2012 - 03:35 am - Link - Report abuse 0
  • briton

    we think,
    that argentina should gather up all of the money sha can lay her hands on,
    we are looking at arround
    500billion,
    is this possable,

    Jul 07th, 2012 - 09:48 pm - Link - Report abuse 0
  • ChrisR

    Chairs on the Titanic jumps to mind.

    The Titanic will now sink in 10 years time, or sooner if things worsen.

    Anybody take a bet that it won't worsen? No, I didn't think so.

    Jul 09th, 2012 - 09:53 pm - Link - Report abuse 0
  • British_Kirchnerist

    #5 You are always giving the impression, and yankeeboy and others unambiguously say, that the end is coming just round the corner. If you're now saying “ten years” I take that as a concession to the reality of Cristina's success =)

    Jul 10th, 2012 - 03:35 pm - Link - Report abuse 0
  • ChrisR

    6 Blind_Scottie_Kirchnerist

    Think what you like as you have missed the point of the topic AND of my post.

    In my judgement, I am still convinced that the real catastrophe of a complete abandonment of control of the Pesos and most likely a full default will happen next year, before the year end.

    This is the first time I have stated this, limiting my previous statements to inflation, which I must say was bang on the button.

    If I am correct I suspect your 'queen' will be gone simultaneously with the total collapse of the economy, again.

    Jul 10th, 2012 - 09:17 pm - Link - Report abuse 0

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