Milei's government reduced the debt from 99.4% of GDP to 42.2% of GDP

President Javier Milei once again turned to social media to showcase the economic progress of his administration. This time, the head of state celebrated a significant reduction in the level of public debt, sharing a chart posted by the Secretary of Finance, Pablo Quirno.

The last Kirchnerist government left a public debt with private creditors and international organizations, including remunerated liabilities in pesos (154 billion) from the BCRA, net of the Treasury Department, in relation to GDP, of 99.4%, and his administration reduced it to 42.2%, lowering it by 57.2 points in relation to GDP.

The publication aims to highlight what the ruling party considers a central achievement: the consolidation of the Treasury's accounts with those of the Central Bank, including remunerated liabilities and compliance with debt payments.

According to the Executive's perspective, this methodology more accurately reflects the true weight of the State's debt, and the fact of settling debts will regenerate the credibility of the Argentine State.

Additionally, Caputo referred to the new agreement with the International Monetary Fund (IMF), reached this week, and expressed confidence that it will help strengthen investor perception. "We're very pleased with the agreement because it's better than the one we had. The market will like it and will receive it very well. Additionally, it will allow us to access the market sooner rather than later", he stated.

The government seeks for the combination of a lower debt burden and a renewed understanding with the IMF to generate better financial conditions for the country.

With this support, the Milei administration hopes to regain international confidence and pave the way for Argentina's return to credit markets, a key step to stabilize the economy.