Gov’t to use US$5.7 billion of Central Bank’s reserves to pay off debt

The government announced today a treasury bill of up to $5.7 billion to be bought in several installments to pay for the country’s debt.

According to the announcement the full amount of the note will be paid gradually in ten years. Interests are to be paid every six months. The granted funds are to be used to cover this year’s debt deadlines.

The resolution dates April 20 but was published today at the Official Gazette and is signed by Economy Minister Hernán Lorenzino.