In September, a net decrease of USD 1.023 billion was recorded, according to the Secretariat of Finance
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During September, there was a reduction in debt resulting from amortizations, swaps, and cancellations that exceeded new issuances and financing, a trend that has been observed especially over the past year.
According to the Secretariat of Finance, headed by Pablo Quirno, in September total public debt operations reached USD 38.326 billion, of which USD 18.652 billion correplied to new financing and USD 19.675 billion to cancellations, resulting in a net decrease of USD 1.023 billion for the month. This was the fifth consecutive decrease recorded.
After applying adjustments for exchange rate differences and interest capitalization, Central Administration debt reduced its decline to USD 199 million, standing at a total of USD 454.031 billion. This adjustment implied a 0.04% decrease compared to August and a drop of USD 6.037 billion over the past twelve months.
Luis Caputo junto a Santiago Bausilli.
The implementation of a fiscal discipline policy by the Government of Javier Milei and the recapitalization of the Central Bank following the agreement with the International Monetary Fund (IMF) signed in April influenced the evolution of the debt.
The consolidated public debt of the Central Administration and the BCRA, discounting the balance of government deposits at the monetary authority, recorded in September an increase of USD 286 million, although it showed a reduction of USD 1.483 billion in the accumulated total over the past twelve months.
Meanwhile, debt under foreign legislation decreased by USD 312 million, standing at USD 163.780 billion, while debt subject to domestic legislation increased by the equivalent of USD 113 million, reaching USD 290.251 billion at the wholesale exchange rate at the end of September, set at $1,350 per dollar.
Regarding debt operations with international organizations, excluding the IMF, aimed at recapitalizing the Central Bank and financing reforms that do not require legislative approval, along with the effect of currency valuation adjustments during the month, these were reduced by USD 225 million, totaling USD 38.064 billion. Meanwhile, loans from the IMF increased by USD 102 million, reaching USD 57.292 billion.
Javier Milei y Luis Caputo.
Meanwhile, due to exchange rate differences, Central Bank Advances and Notes transferred to the Treasury were reduced by the equivalent of USD 89 million, standing at USD 58.525 billion.
Between November 2023 and September 2025, the consolidated stock of Central Administration debt, including the transfers of Central Bank liabilities to the Treasury and the variation of official deposits at the monetary authority, reflected a net decrease of USD 43.342 billion.
This variation consists of an increase of USD 21.693 billion with international organizations and a reduction of USD 65.034 billion in the national public and private sector as a whole.
