Argentine economy ministry swapped $164 million sovereign bonds (AF20) for four new instruments maturing in August 2021. The swap represents only 10% of the total bond value due Feb. 13.
Tax collection in January 2020 was AR$527 billion, up 44.9% compared to the same month last year, Argentina’s Federal Public Revenue Administration (AFIP) reported. Revenue from export duties was AR$24 billion, this is an increase of 54% compared to the same period of 2019. Customs VAT, linked to exports, increased 87.1%.
Buenos Aires province will not default and will pay this week $250 million capital plus $27 million interest of bond BP21 originally due on Jan. 26, Governor Axel Kicillof said. The announcement came after failure of negotiations for getting agreement with 75% of bondholder over a delay until May 1, being Fidelity Investments the main group opposed to the deal. The province will use own resources to make payments.