Caputo travels to Washington together with Frigerio and five Governors to sign an Agreement with the IDB for USD 120 million

The loan is for the Program to Strengthen Provincial Management that aims at the improvement of jurisdictions’ fiscal autonomy through the financing of projects.


The Minister of Finance, Luis Caputo, is traveling next Monday to Washington within the framework of the approval of a USD 120 million loan from the Inter-American Development Bank (IDB) for the Program to Develop and Strengthen Provincial Management. The delegation will be also comprised by the Chief of Cabinet of the Ministry, Pablo Quirno, and the Undersecretary of International Financial Relations, Félix Martín Soto.

The Finance Minister will travel together with the Minister of Internal Affairs, Public Work and Housing, Rogelio Frigerio. He will also be accompanied by the Governors Ricardo Colombi from Corrientes, Alfredo Cornejo from Mendoza, Hugo Passalacqua from Misiones, Omar Gutierrez from Neuquen, and Juan Manuel Urtubey from Salta.

On Tuesday, February 21, Caputo, as governor for Argentina before the Organization, will hold a meeting with the President of the IDB, Luis Alberto Moreno, also accompanied by the Argentine representative before the International Organization, Raúl Novoa. After that, they will share lunch with governors of the IDB.

Likewise, as responsible for the bilateral relations with this development bank, the head of the Finance Ministry will be holding working meetings with the vice-president of countries of the IDB, Alexandre Meira da Rosa, with the vice-president of sectors, Santiago Ley, and with the vice-president of the IDB, Julie Katzman. In addition, Mr. Minister will also meet with the General Manager of Inter-American Investment Corporation (IIC), James Scriven, and later he will be meeting with Argentine experts of the institution.

On Wednesday, February 22, at the American capital city, the Argentine officials will give a speech at the IDB “Progress in Fiscal Federalism in Argentina” before an audience of experts. Caputo, Frigerio, the Secretary of Provinces, and the Provincial Governors will participate of the exhibition. The Argentine Ambassador in the United States, Martín Lousteau will also attend.

After that, the agreement with the IDB will be signed and the commitment between the National Government and each Province for the financing of the Program to Strengthen Provincial Management will be executed. The Program is aimed at the contribution for growth and private employment, through the improvement of income, expenditure and public investment, as well as the implementation of investment projects.

Finally, on Thursday, February 23, Pablo Quirno and Martín Soto will participate together with Raúl Novoa of the Joint Meeting of the Board of Governors of the IDB and the IIC.

Results of the Placement of Treasury Bills in US Dollars bearing a 95 and 186-day maturities and of Treasury Bonds in Pesos maturing in 2021, 2023, and 2026


Treasury Bills in US Dollars
The Ministry of Finances informs the placement of Treasury Bills in US Dollars bearing a 95-day maturity at a nominal annual rate of 2.85% and 168-day maturity at a nominal annual rate of 3.35%. Therefore, said maturities are almost refinanced with this placement.

The total amount of the orders received for both types of securities reached nominal value USD 2.175 billion; distributed in USD 1.409 billion for the 95-day Bill and USD 767 million for the 186-day Bill. 9,954 purchase orders were filed.

Due to the fact that the amount offered for both Bills exceeded the total amount to be placed, in order to make the placement a53.24% rate was applied for the 95-day Bill and of 97.84% for the 186-day Bill.

Treasury Bonds in pesos at a fixed rate
Regarding Treasury Bonds in pesos at a fixed rate maturing in 2021, purchase orders were filed for a nominal value of $15.502 billion, $12.5 billion out of which were awarded, at a cut-off price of $1,170 for every face value of $1,000 and a yield of 15.09%. This represents a reduction of 3.11 percentage points regarding the 18.2% yield of the original issue of this bond carried out in October 2016. Due to the fact that the amount offered for both Bills exceeded the total amount to be placed, a proration factor of 91.76% was applied.

Regarding Treasury Bonds in pesos at a fixed rate maturing in 2023, purchase orders were filed for a nominal value of $5.892 billion, $4.512 billion out of which were awarded, at a cut-off price of $1,132 for every face value of $1,000 and a yield of 14.16%. This represents a reduction of 1.84 percentage points regarding the 16.00% yield of the original issue of this bond carried out in October 2016.

Finally, regarding Treasury Bonds in pesos at a fixed rate maturing in 2026, purchase orders were filed for a nominal value of $9.207 billion, $6.572 billion out of which were awarded, at a cut-off price of $1,150 for every face value of $1,000 and a yield of 13.66%. This represents a reduction of 1.84 percentage points regarding the 15.50% yield of the original issue of this bond carried out in October 2016.

The total amount of orders received for the instruments in pesos reached nominal value $ 30.601 billion.

Caputo met with representative of the World Bank


The Minister of Finance, Luis Caputo, met this morning with the Vice President of the World Bank for Latin America and the Caribbean. Caputo was also accompanied by the Undersecretary of International Financial Relations, Félix Martín Soto, and the Argentine representative before the World Bank, Daniel Pierini.

Likewise, the Director for Argentina, Paraguay, and Uruguay, Jesko Hentschel, was part of the multilateral organization’s delegation. Within this framework, they talked about investment prospects for the country.

After said meeting, Caputo and Familiar met with the Minister of Treasury, Nicolás Dujovne.

Modification of settlement dates for the reopening of Treasury Bonds at fixed rates in pesos with maturities 2021, 2023 and 202


Within the framework of the auction to be conducted next Wednesday and Thursday, the Ministry of Finance announces the modification of the settlement date for Treasury Bonds in pesos. It will be conducted on Tuesday, February 21, due to the number of orders to process and the variety in the instruments offered. Settlement date for Treasury Bills denominated in dollars will be held for Monday, February 20, as announced.

Instruments with liquidation on Monday, February 20:

  • Treasury Bills in US dollar maturing on May 26, 2017
  • Treasury Bills in US dollars maturing on August 25, 2017

Instruments with liquidation on Tuesday, February 21:

  • Treasury Bonds in fixed-rate pesos 18.20% maturing on October 3, 2021
  • Treasury Bonds in fixed-rate pesos 16% maturing on October 17, 2023
  • Treasury Bonds in fixed-rate pesos 15.50% maturing on October 17, 2026

In order to participate in the competitive stage of the Treasury Bill tender, the price must be indicated including interest accrued up to Tuesday, February 21 (“dirty”) expressed for each for each USD1,000 nominal value with two decimal places. For the non-competitive stage, only the amount to be subscribed must be recorded.

Offer receipt will begin at 10AM on Wednesday, February 15, and will end at 3PM on Thursday, February 16, 2017 and it will be conducted under the procedures provided for Joint Resolution of the Secretariat of Treasury No. 31/15 and of the Secretariat of Finance No. 10/15.