LatinNews Daily - 10 August 2022

In brief: Argentina completes debt swap

*Argentina’s Economy Minister Sergio Massa has announced the successful completion of a voluntary debt swap of peso-denominated bonds with maturities of up to 90 days for others maturing in 2023. The exchange received an acceptance rate of 85%, meaning the government was able to postpone until 2023 payments for Ar$2trn (US$15.6bn) that were due to be made within the next three months. Massa had announced the exchange while launching his economic plan on 4 August. “We are grateful for the trust and support of institutional investors, individuals and public sector agencies, which allows us to alleviate the financial situation for the next quarter, extending maturities to 2023,” he said, adding that clearing the maturities allowed the government to work in a more orderly manner to manage public accounts and provide more certainty for Argentina’s economy.

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