Chaco to issue bond in pesos to pay off dollar debt

Chaco province Governor Jorge Capitanich will further advance with the tackling of the province’s dollar debt, by issuing a bond in pesos in order to pay it off.

“We are soon to set up a system that will allow the payment be made in pesos. We are to exchange these bonds for pesos. The debt is to be converted entirely into pesos,” Capitanich said today in an interview with Diario Norte.

The province is currently in US$4.7 billion in debt.