LatinNews Daily - 29 April 2022

*Argentina’s central bank (BCRA) has released new figures which show private sector external debt totalled US$76bn as of the end of the fourth quarter of 2021. According to the report this represents a decline of US$2.6bn on the previous quarter and a drop of US$1.48bn in annual terms. The report said that the decline owed to reductions in both financial and commercial debt. It highlighted the impact of the sovereign debt restructuring process in foreign currency which took place in 2020 and new guidelines for private sector companies to refinance their foreign financial debts and/or local debt securities in foreign currency, so that they could meet the new requirements. According to the BCRA report, debt renegotiations of around 26 companies in Q4 2021 resulted in lower net purchases in the foreign exchange market - around US$330m less compared to the amounts expected to be paid on the original maturities over that period.

End of preview - This article contains approximately 159 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial