Argentina's Treasury rolls over only 60% of maturing bonds.

The difficulties are confirmed recorded in recent months by the government of Javier Milei in periodically renew the entire amount of securities in expiration. In a session where the roll-over of issues was at stake for a total amount of 15 thousand billion pesos (approximately 9.75 billion euros at the current exchange rate), the Treasury Argentine managed on Wednesday to renew deadlines for a total of 9.1 trillion (approximately 5.9 billion euros) despite offering returns of up to 69% per annum that double the level of inflation. The result forces the Treasury to inject around 6,000 billion pesos (3.9 billion euros) on the market - figure equivalent to 15% of all money in circulation in the Argentine economy - with the risk of fueling again the devaluation pressures as occurred in a similar circumstance at the beginning of August.