Argentina Rolls Over Debt in Relief for Battered Currency

Argentine authorities said they successfully rolled over a large batch of local debt on Wednesday, passing a key test for Javier Milei’s strategy to contain a slide in the peso ahead of mid-term elections.

The Finance Ministry sold about 7.7 trillion pesos of debt, according to an X post by Finance Secretary Pablo Quirno. But the sale came at a cost, with yields on the new notes maturing on Sept. 30 reaching 75.7%, far above expected inflation and slightly up on the pre-auction market levels.