Argentina expands bank debt purchases to secure $13B rollover without rate hike

Argentina's central bank (BCRA) broadened the quota for financial entities to acquire Treasury debt, now allowing allocation to any peso-denominated instrument, not just LECAPs. This move aims to facilitate a $13 billion rollover in the key auction on Monday, September 28, while avoiding an interest rate increase. The change signals increased reliance on domestic bank financing to manage fiscal pressures, with potential implications for liquidity and inflation.