Fernández free to use $4.6 billion of BCRA reserves to pay debt

Lawmakers handed President Alberto Fernández extraordinary powers to renegotiate debt terms with creditors at a time the new government seeks to renegotiate about $100 billion owed to private creditors and the International Monetary Fund. The emergency bill authorises Fernández’s administration to take as much as US$4.6 billion in Central Bank reserves to pay down debt denominated in dollars.

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Source: Bloomberg