Argentina issues 10bn Pesos in bonds to drain liquidity and contain inflation

Thursday, March 27th 2014 - 08:02 UTC

Full article 7 comments

Argentina's government will issue as much as 10 billion pesos (1.25 billion dollars) in bonds on Friday as it seeks funding from local investors and tries to drain liquidity from the local market as the harvest season approaches when traders begin selling the dollars of overseas shipments of grains and oilseeds. Read full article

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Papamoa
Who is going to buy argentine debt ????
As there track record is appalling !
Mar 27th, 2014 - 10:50 am - Link - Report abuse 0
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Troneas
@2 - so is your grammar.
Mar 27th, 2014 - 11:05 am - Link - Report abuse 0
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RICO
I think it is almost at the stage where Argentina cannot issue bonds. Without a miracle it will be reduced to charity and selling off assets. Perhaps repsol will be stupid enough to buy back the assets that were stolen from them. Then there are the pension fund assets that can be sold off as well if they have not already been liquidated in secret.
Mar 27th, 2014 - 11:50 am - Link - Report abuse 0
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yankeeboy
Anses has no U$ assets! They were stolen a decade ago. Just about everything it holds now is denominated in ARG$, gov't bonds etc.

This is a drop in the bucket, they're still printing more money to the tune of 25+% YEAR!

Silly marxist monkeys!
Mar 27th, 2014 - 12:13 pm - Link - Report abuse 0
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Captain Poppy
# 2 Is form over function that important to you?

#1 There is always Brazil and Venezuela, part of the buddy system they've developed.......junk bonds through and through to the end, which by the way is not too far off.
Mar 27th, 2014 - 02:18 pm - Link - Report abuse 0
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yankeeboy
This bond is currently paying 30% a year. Too bad inflation is predicted at 48%! I think it is indexed though so maybe they'll end up paying 50%!

So the gov't is taking $ away from banks, thereby reducing credit to businesses that are seriously hurting for credit, thereby reducing investment and driving up unemployment.
Sounds like a great plan.

Oh this is turning out better than I hoped.
Mar 27th, 2014 - 02:36 pm - Link - Report abuse 0
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toooldtodieyoung
“But her reliance on money printing to cover deficits has kept inflation above 20% for years and undermined faith in the Argentine peso”

................and so the Endgame is about to play out for the TMBOA and, indeed, for argentina itself.

But on the plus side, she will be out of there by this time next year.
Mar 27th, 2014 - 09:03 pm - Link - Report abuse 0
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