planning to shift all Argentine debt to US dollar-denominations
Roit-erz: “Argentina next week will issue dollar-denominated, 210- and 378-day Treasury notes and dual-currency bonds, the Finance Ministry said on Friday, without confirming the amount the sale seeks to raise.
The South American nation will auction the instruments between Tuesday and Wednesday, and will provide further details on the terms governing the sale on Tuesday, the ministry said.
The maximum price for the 210-day notes was set at $977.5, the equivalent of a minimum 4 percent nominal annual interest rate, and $955.47 for the 378-day notes, equivalent to a 4.5 percent annual interest.
www.nasdaq.com/article/argentina-sells-4-billion-in-dual-currency-peso-bonds-20180618-01004
what Steve Hanke told ’em 2 weeks ago in Forbes (“do it dumb fucks!”)… Hanke alsmost got ’em to do it in 1998-1999, but they backed out at the last second & went down the road to socialism
h/t OCCAM’S RAZOR