Argentina sells peso debt to boost reserves

Argentina is selling peso-denominated debt for the first time in almost a decade, a move aimed at bolstering foreign reserves and meeting IMF loan obligations. The government will auction up to $1 billion in fixed-rate treasury bonds, the "BONTE," which can be purchased in dollars and mature in 2030. This debt sale is a key test of investor confidence under President Javier Milei's budget cuts. This initiative follows a recent $12 billion IMF loan installment, crucial for Argentina to combat inflation and stimulate economic growth. The country is seeking to stabilize its finances.