Argentina Launches $65 Billion Debt Swap to Bolster Confidence in Economy

• Argentina starting a record $65 billion peso debt swap to roll over 2024 maturities • Seeking to repurchase bonds and sell new longer-dated securities • Conversations between economy minister and banks began in January • Record size seen as test of market confidence in president's economic program
• Extending maturities could reduce need to print pesos and help stabilize currency