Weekly Reports

Twists and Turns Awaiting Better Definitions

First week
of February 2020
The first chapter of negotiations between the Province of Buenos Aires and creditors regarding the BP21 ended today, when unable to strike a deal with over 75% of bondholders, the local government was forced to service the entirety of the capital payment, USD 250 million, with its own funds and against its original ...

A Swap That Arises as an Alternative Not to Re-Profile

Third week
of January 2020
A priority of Alberto Fernández’s administration is coming to an agreement on debt matters. Particularly, it is trying to give preferential treatment to the debt of Lecaps in pesos. The voluntary debt swap the Government proposed yesterday must be understood within this new philosophy, making an effort to prevent a ...

Highs and Lows from the First Month of the New Administration

Second week
of January 2020
The beginning of Alberto Fernández’s administration was a pleasant surprise on a fiscal note and in the sense that it is trying to solve the debt restructuring in a friendly way. It has been predictable and interventionist regarding sector policies with utilities rates freezes, with Precios Cuidados, and with the re...

The New Tax on FX purchases and Dollar Consumption With Cards

Third week
of December 2019
The economic emergency bill project that will be sent to Congress today proposes a 30% levy on the purchase of FX and for consumptions in dollars made with cards. The payment would not be considered as a credit to other taxes as historically was the case, but simply a new tax on purchases of dollars for hoarding, to...