Together for Change crossed the government for the debt in pesos and the Frente de Todos came out to respond

After Together for change question the government’s intention to carry out a new bond exchange in pesos to extend the deadlines to 2024, the bloc of senators of the In front of all He demanded “seriousness and responsibility” from the opposition coalition, which he accused of being “the cause of Argentina’s bankruptcy and the return of the International Monetary Fund”.

In a crossroads of statements released on social media, the two spaces expressed their opposing positions regarding the initiative that the Ministry of Economy has been working on with banks and insurance companies in recent weeks.

First it was the turn of opposition lawmakers, who warned of “the serious risks involved” in measuring these characteristics, because, according to them, “it could lead to an inflationary jump even greater than the one already produced”.

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“The aforementioned swap will give banks an option that no investor has: an inflation- or devaluation-adjusted ‘double bond’, and the ability to sell all securities to the Central Bank at any time,” they pointed out.

The answer came a few hours later, through their own text signed by the Frente de Todos senators, who questioned Juntos por el Cambio for being out “ sow anxiety and uncertaintybefore each decision of the national Government and even before any possible economic determination”.

“We demand once again responsibility and seriousness from the legislative blocs of Together for Change, including the government, led by Mauricio Macriwas the cause of Argentina’s bankruptcy and the return of the International Monetary Fund, with an unpayable debt that will condition the country’s economic policy for decades,” they said.

In this sense, the ruling party pointed out that the members of this space “did not say anything when the Macrista administration led the country to a default in payment in pesos, contracted an astronomical debt with the IMF without consulting the National Congress, ignoring the regulations in force, and increased Argentina’s debt to more than one hundred billion dollars”.

“Not only were they silent, they were silent and they accepted without saying a word the disaster that mortgaged the fate of generations of Argentine men and women for decades, but they also defended and supported the policies of adjustment, the destruction of jobs and wages. and those decisions that ended up breaking Argentina,” they replied.

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In harsh terms, the Frente de Todos affirmed that “for the forum, they claim to be promoters of dialogue, but in practice they appeal to their already well-known formula: systematic opposition, refusal of any attempt to seek consensus, filibuster and false denunciation before relevant media groups and judges”.

“It’s a shame lack of responsibility of this sector of the opposition in the face of an economic situation that the current government has always recognized and which it inherited. It looks like they only want Argentina to explode. It would be better if they thought and acted with the seriousness that the moment demands of all sectors of society,” the statement concluded.

The proposal they end up defining at the Ministry of Economy during the round trip with banks and insurance companies, as evidenced by GlobeLiveMediawould include a basket of 80% inflation-linked securities and 20% dual bonds, which provides holders with exchange and price hedging in pesos, whichever is most practical for the investor.

Maturities for the coming months amount to more than 12 trillion pesos between March and July and amounting to 16 billion until October. According to an estimate made by the consultant Equilibra, “if we look at the dynamic maturity profile (projection of the evolution of the CER and the exchange rate until the maturity of each instrument) more than 16 trillion pesos must to be paid (10% of GDP) between March and October,” they estimated.

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