Argentina’s government will push state entities to give up their foreign-law sovereign dollar bonds, an economy ministry official said on Tuesday, aiming to reduce exchange rate volatility and absorb a surplus of pesos.
The government, expected to announce the measures by decree on Wednesday, will seek to withdraw foreign-law dollar bonds from state entities and make them place a portion of their local-law dollar bonds on the open market, the official said on condition of anonymity.The government aims to exchange some $4 billion in foreign-law bonds for peso debt, local news outlet Infobae said.
Source : Argentina plans to urge state-owned entities to relinquish dollar bonds, says Ministry official