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Argentina forces public companies to exchange dollar-denominated bonds for peso-denominated securities

The Argentine Ministry of Economy urged national public entities to dispose of their dollar securities under foreign law for bonds in local currency to strengthen the Central Bank's reserves, for a value of about US$4 billion.

"Today we began to give depth to the local law dollar bond market, starting with the purchase of global bond holdings of public entities, which will allow lowering the [global] foreign law public debt by some US$4 billion initially", explained the Deputy Minister of Economy, Gabriel Rubinstein.

The 113 public entities of the State will have to get rid of their . . .

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