Argentina has swapped $16 billion in non-negotiable notes held by the central bank for U.S. dollar-denominated bonds, as the country moves to bolster currency reserves and strengthen its hand against creditors suing over defaulted debt.
The central bank also is talking with investment banks about a financing deal of up to $7 billion, another part of its push to shore up foreign exchange reserves that were run down by previous President Cristina Fernandez.
The free-spending interventionist Fernandez was succeeded last month by Mauricio Macri who is moving to more free-market policies.
The new bonds mature in 2022, 2025 and 2027, the government said on Wednesday.
They were traded for non-transferable notes that a previous government owed to the central bank and matured at the start of the year.