In the course of the government finance program, the Ministry of Finance closed down a new State Treasury tender in dollars (Letes). In exchange for the interest rate of 4.75%, Nicolas Dujovne's portfolio totaling $ 850 million, equivalent to 77% of the end of this week, $ 1,100 million.
One of the main pillars of the Cambiemos Financial Program is to achieve 60% refinancing from Late to the end of the contract. standby mode from USD 57.100 million. In the government's economic wider vision, reaching this "roll" above the figure of 60%, provides an error which would allow these funds to be used to finance certain future commitments.
Today's letters are due to expire in June 2019, when government finance is expected to be more credible than the current one.
Together with a from Hacienda's understanding that the agreement payments will be forced to decline in 2020. If the surplus of 7,600 million USD and refinancing will exceed 60% in the coming days, the Treasury's financial management will avoid looking for new financing in the markets for the remaining Mauricio Macr's first term of office.
The The next government check Letes are deadlines that will decrease in January and February next year of $ 2,000 and $ 2,200 million respectively.