Debt represents 89% of the GDP and 556% more than the international reserves

As a proportion of GDP, total public debt has been on the rise since 2011, rising from 35.9% that year to 88.7% in 2019. The external debt (in foreign currency) in comparison to exports: was 110.2% in 2011, rose to 313.9% in 2019. Regarding reserves, external debt (in foreign currency) in 2011 represented 231.9%, last year it reached 556.1%.

BCRA exchange rate and international reserves data

In the stock market, the implicit exchange rates reached over 88 pesos while the wholesale dollar closed with a slight rise, due to the regulation of the Central Bank. The liquidation counted dollar (CCL) - obtained from the purchase and sale of shares or bonds to escape foreign currency - rose by 1 peso to 87.92 pesos, with which the gap with the official one climbed to 36.2%. In the Single Market and Free Exchange (MULC), the currency rose just six cents (0.1%) to 64.53 pesos. After increasing 3.6% during March, the tourist dollar - which carries the 30% surcharge for the Country Tax - appreciated four cents to 86.59 pesos. The BCRA's International Reserves rose this Wednesday $4 million to $43.6 billion. In March, the monetary authority's coffers lost $1.2 billion.

Shares in S&P Merval rose to 8% and bonds over 10%

The S&P Merval index rose 3.9% to 25,324 units. The leading dollar bonds closed with increases of more than 10%, dollar securities under foreign law rose more than 7%, while bonds payable in pesos also experienced substantial increases of up to 5%. The dialogue with holders of $83 billion in debt to be renegotiated will continue this week and next. The country risk rose 3.7% to 3,943 units as global risk aversion deepened