LatinNews Daily - 23 December 2019

* Argentina’s economy ministry has announced that the treasury has successfully placed Ar$18.84bn (US$299.1m) in peso-denominated bonds in the domestic financial market. This is the first issue of bonds made by the government led by President Alberto Fernández since it assumed office on 10 December pledging to resolve Argentina’s economic crisis by ending the fiscal adjustment measures implemented by the previous administration and renegotiating the country’s debt. According to an official statement, the bonds, which mature in June 2020, offered an interest rate of 44.76%. The statement adds that the bonds were oversubscribed, with investors prepared to buy Ar$21.5bn in letters but that the treasury decided against issuing more bonds than originally planned. The successful operation comes four months after the previous government had to cancel its last planned domestic bond issue after there was no interest.

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