*Argentina’s government has raised US$1bn through the sale of peso-denominated bonds, which have a coupon rate of 29.5% and will mature in 2030. Coming after President Javier Milei’s decision in April to relax currency controls, the bond sale reportedly marks the first time since 2018 that Argentina has sold local currency debt to foreign investors. Indicative of strong demand for the bonds, the finance ministry revealed that it had received 146 offers which totalled US$1.69bn. Writing on social media, Finance Secretary Pablo Quirno hailed the bond sale as a boost for Argentina’s foreign currency reserves and for the refinancing of the country’s debts.
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