The transaction prioritizes the control of interest costs through a Swiss franc operation with Citibank.
The Ministry of Economy and Finance (MEF) announced this Monday, April 13, the contracting of financing with Citibank, N.A. for an amount of up to 1,975 million Swiss francs (CHF)equivalent to approximately 2,519 million dollars.
The operation stands out for a 2.39% annual fixed rate and a term of three years expiring in March 2029, which, according to official projections, represents a 1.66% savings in interest cost compared to other financing alternatives currently available in the US dollar (USD) market.
Debt profile optimization
The main objective of this maneuver is diversification of financing sources and reducing the cost of sovereign borrowing, the report states. The MEF explains that by opting for a denomination in Swiss francs, the National Government takes advantage of more favorable reference rates and dilutes the exposure of public debt to a single currency.
The resources obtained will be allocated to two critical fronts for public finances:
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Refinancing: The payment of the Treasury Note (PANOTA 3.75%) due this April 17, 2026which amounts to 1,325 million dollars.
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Liquidity: Cover operational needs of the General State Budget for the fiscal year 2026.
Through an official statement, the MEF reaffirmed its commitment to “prudent and responsible” debt management.
The institution maintains that by setting the rate at 2.39%, the country achieves predictability in its cash flows, protecting itself from possible increases in international interest rates during the next three years.
At the end of February 2026, the total public debt was $60,059 million.
