The Argentine government took out a six-month, 30 billion-peso loan from Banco de la Nación Argentina in order to pay debt maturing in 2019, according to a resolution published in the official gazette.
The board of the state-run bank approved the loan Oct 17. The interest rate will be based on the variable "Badlar" rate, which rewards fixed-deposits over 1 million pesos, plus 100 basis points.
The government additionally placed notes worth 2 billion pesos and US$175 million, which were directly subscribed by social security office Anses, according to a separate resolution.
Argentina's funding capabilities have been severely restricted after recent market turmoil and political uncertainty led the International Monetary Fund to postpone a $5.4 billion U.S. dollar disbursement previously scheduled for September.
As of Oct. 22, US$1 was equivalent to 58.67 Argentine pesos.