Argentina on Monday will pay the $5.9 billion maturity due for its Boden 15 bonds in cash and issue new debt the following day, Economy Minister Axel Kicillof said on Friday. Argentina which is in technical default on some debt because of a legal fight with bondholders in the United States, targets raising $500 million in the auction of notes under Argentine law, Kicillof told a news conference.
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.
The current strict measures to counter the purchase of US dollars and by extension capital flight, implemented by Argentina apparently have a calendar date full of political significance: August 3 when the Boden 2012 fully matures.