Report

EconMin rolls over 77% of ARS 73.8bn maturity in successful switch auction

- EconMin switches ARS 47.7bn of maturing bond, sells T-bills worth another ARS 14.5bn
- Rollover rate's rise to 77% is a success after the dual-currency reprofiling fiasco
- But it is now unclear what EconMin will do with free riders that hold ARS 16.9bn outstanding as they need to create rollover incentives ahead of next bond payment
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