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Argentine Central Bank rescues Treasury debt with more money issuance

The Argentine government's debt tender resulted in a bitter failure.

The national Treasury had to be helped by the rescue of other government agencies.

The Argentine Central Bank (BCRA) issued ARS 300 million (US$1.9 million) to buy public bonds that the private sector no longer wants to renew.

The economic team led by Sergio Massa succeeded in a public bond tender in pesos for up to ARS 63,592 million, an amount far exceeding the maturities foreseen for the current week.

But the composition of the holders of these bonds hides a truly dramatic reality.

The private . . .

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