The former president of Banco Nación Argentina (BNA), Carlos Melconiananalyzed in the last hours the voluntary debt exchange in pesos that the Government launched and assured that it is a “genuine” instrument that is going to be used “500 times.”
“The patriotic attitude right now is to come together and say how this is going to be fixed. The issue is not the debt swap: the debt swap is a genuine instrument that we are going to use 500 times,” Melconian said during an interview with La Nación +.
The head of the Institute for Studies on Argentine and Latin American Reality (IERAL) thus differed from the statement issued last Sunday by the block of Together for Change (JxC).
The economist asked to get out of the chicana because “the contracts are not going to be broken”, but he warned that “what you cannot have is the debt swap and continue fattening the fiscal deficit.”
“What society has to know is that if you do a debt swap without fixing the rest of the things, it is throwing daisies at the pigs,” he concluded.
Debt swap: the Government achieved 64% acceptance
The Ministry of Economy announced yesterday that the Government was able to exchange debt bonds for $4.34 trillion out of a total of $7 trillion, reaching 64% of the stock of eligible securities and extending the maturity curve from the second quarter to 2024/ 2025.
“For the April, May and June maturities, the level of acceptance reached 61.5%, while for the March maturities (including the operation carried out in January) the participation exceeded 72%. In short, the adhesion percentage reached 64% of the eligible titles”, he said.