Argentine needs US$ 37bn to address the budget deficit and foreign debt payments

Monday, May 2nd 2016 - 07:54 UTC

Full article 8 comments

Argentina will issue a fresh round of dollar-denominated debt notes worth an estimated US$8 billion in the next few days, top officials from the Finance Ministry confirmed. The government will “very soon” issue a new Treasury note to capture dollars that are being stored “under the mattress” in a process that will kick off with a meeting with bankers, Finance Secretary Luis Caputo said.The Argentine government hopes to bring in US$5 billion through the issuance. Read full article

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Before Enrique starts whining again.... the deficit is thanks to his object of affection, Kirchner, and not Macri.

If Kirchner's government hadn't lived beyond its means for so long, Macri wouldn't have to deal with a deficit this large.

Financing the deficit more through debt than printing pesos should slowly deflate inflation.
May 02nd, 2016 - 08:13 am - Link - Report abuse 0
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golfcronie
@1
Macri could ask TMBOA for a loan
May 02nd, 2016 - 09:35 am - Link - Report abuse 0
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chronic
Pollyanna, rg is also the recipient of an imploded commodities market which challenged Cretina and will Macaroni as well.
May 02nd, 2016 - 10:53 am - Link - Report abuse 0
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Lucifer
They do need immediate funds to fix infrastructure which has not been touched in over a decade.
How they pay these bonds is beyond me though
They don't have much to offer the rest of the world for trade
May 02nd, 2016 - 11:04 am - Link - Report abuse 0
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golfcronie
The majority are too lazy to work, it must be the Italian or Spanish influence in their DNA.
May 02nd, 2016 - 12:39 pm - Link - Report abuse 0
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ChrisR
“The majority are too lazy to work, it must be the Italian or Spanish influence in their DNA.”

It certainly applies in Uruguay. No Money Pepe, the dumb fuck president who ruined the good financial position he inherited from Vasquez even said so to a business symposium and repeated on TV.
May 02nd, 2016 - 05:46 pm - Link - Report abuse 0
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Marti Llazo
“....we are very comfortable with .... a fiscal deficit of 4.8% of GDP”

Speaks volumes.

Taking bets on the timing of the next sovereign debt default?

Tic - toc
May 02nd, 2016 - 05:47 pm - Link - Report abuse 0
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chronic
Tick tock, indeed!
May 02nd, 2016 - 09:33 pm - Link - Report abuse 0
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