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Boudou says that he is in no rush to emit debt
El Cronista
August 19, 2010

Economy Minister Amado Boudou said that Argentina "is not anxious to, nor needs to emit debt", playing down this way the possibility of immediately going out to seek financing on the market through the emission of public bonds.

"We have no urgency, and if we were to hold that emission it would be to set a lower interest rate for the private sector," Boudou said yesterday at the Casa Rosada, after participating in an event with President Cristina Kirchner and governors.

The official intention of placing a bond was recognized at various opportunities, soon after the close of the last debt swap, but was subsumed to market conditions that allow for an interest rate below 10%.

Various private consultants recalled that on the table is the emission of the Global 2017 bond for US$1 billion, while other analysts spoke of the possibility of an emission with a longer maturity, eventually to 2020.

A simultaneous bond swap is expected on paper that expires next year, like the Bonar V and the Boden 2012, both under national legislation.

The obligations for 2011 for maturities in principal and interest of debt emitted in other currencies come to US$8 billion, taking out the payments to be made to international organizations and public entities (mainly ANSeS and the BCRA).

Of those sums, some US$2 billion will correspond to the coupons attached to GDP in dollars and euros, including those emitted in the swap concluded last month.

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