Argentina: Argentina’s finance minister, Luis Caputo, has announced that the country has successfully issued US$2.3bn in short-term treasury bonds (maturing in six and 12 months) in the domestic financial market; and that the treasury also raised an additional US$1bn via the repurchase agreements (Repos) reached with international banks. Caputo highlighted that with the recent transactions, the Argentine government has now secured 75% of the funds needed to finance its budget this year. However, it is estimated that the government must still raise US$5bn in the financial markets this year to meet its budgetary obligations; and the increasing level of debt contracted by the government, which currently stands at around 59% of GDP, has led local economists to warn that the rate at which the public debt is growing is too high.
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