Argentina Rolls Over 61% in Peso Debt Auction

Argentina’s local debt auction Wednesday fell short of market expectations as President Javier Milei’s administration rolled over just 61% of maturities in a key auction that analysts said may prompt a drop in the peso.

The Treasury rolled over 9.1 trillion pesos of the 15 trillion pesos in short-term papers maturing today, while injecting nearly 6 trillion pesos into the economy to finance the rest. The total maturities represented about a third of all the money in circulation in the economy.