Thanks to the Government, the State's net debt was reduced by more than USD 20 billion.

The Government of Javier Milei, through the Secretariat of Finance, led by Pablo Quirno, announced that the total gross debt of the Central Administration recorded a decrease of USD 676 million in April, standing at USD 472.920 billion.

This drop was due to the inflow of resources from the Extended Fund Facility agreement with the IMF and other multilateral organizations. These funds were used to redeem Non-Transferable Treasury Bills held by the Central Bank, a maneuver aimed at strengthening reserves and facilitating the lifting of the currency control, announced on April 11 and effective since Monday the 14th.

According to Finance, these operations led to an increase in foreign currency debt by USD 14.954 billion, while local currency debt was reduced by USD 15.630 billion. This latter drop is attributed to a "liquefaction" process associated with the increase in the wholesale exchange rate following the implementation of the floating band scheme between $1,000 and $1,400.

If the increase in official deposits in the banking system, which reached the equivalent of USD 19.985 billion, is discounted, the net debt of the Central Administration was reduced by USD 20.623 billion.

The monthly Finance report also notes that during April, financing operations totaling USD 21.816 billion were carried out, while debt payments of USD 13.676 billion were made.

The net result for the month was an increase of USD 8.140 billion in debt, although it is considered temporary, as part of those funds was used in May to redeem Non-Transferable Treasury Bills held by the Central Bank.

The consulting firm Romano Group noted that on April 25, the National Treasury received profits of $11.7 trillion deposited in the BCRA, while on the 28th of the same month, a tender with maturities of $2.2 trillion was conducted. As a result, official deposits closed April at USD 27.135 billion, the highest level since September 2024.

Between December 2023 and April 2025, the gross debt of the Central Administration increased by USD 68.263 billion. However, if the liabilities of the Central Bank transferred to the Treasury and the accumulated official deposits are considered, the consolidated balance shows a decrease of USD 20.544 billion.

In November 2023, the remunerated liabilities of the BCRA reached USD 61.657 billion. After their absorption by the Treasury and their compensation through deposits caused by the fiscal surplus, the Secretariat of Finance estimated a net consolidated reduction of USD 20.543 billion in the first five months of management. According to the agency, this performance is unprecedented in the last four presidential administrations.