Argentina to continue reducing stock of short-term debt
Lebac’s expansion thought to contribute to inflation
The Central Bank of Argentina will proceed this week with the reduction of the stock of short-term debt instruments known as Lebacs, one of the objectives it unveiled in August to stabilise the economy, it said on September 14.
On September 18, the central bank will offer 150 billion pesos ($3.75 billion) of Lebacs, against 300 billion pesos that are due to mature. To stem the sharp depreciation of the currency, on August 13 the central bank decided to gradually eliminate this asset before the
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