Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Fernandez Says Argentine Foreign Debt to Drop to 8.4% of GDP

Aug. 2 (Bloomberg) -- Argentina’s foreign debt will drop to the equivalent of 8.4 percent of gross domestic product after tomorrow’s final $2.2 billion payment on its Boden 2012 bonds, President Cristina Fernandez de Kirchner said at an event at the Buenos Aires stock exchange.

“The payment gives us an immense freedom from markets which move every day and don’t allow us to act efficiently,” Fernandez said.

Government debt held by the private sector dropped to the equivalent of 88 percent of reserves and 12 percent of gross domestic product in 2011 from 815 percent and 124 percent respectively in 2002, Fernandez said. Most government debt is in the hands of the public sector.

Twenty-two percent of the Boden 2012 bonds are owned by local investors, while the rest is held abroad, she said.

To contact the reporter on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.