A senior analyst at Moody’s rating agency said on November 16 that the Argentina’s central bank bonds have become “a threat to macroeconomic stability”.

The comments by the analyst, Gabriel Torres, at a webinar, coincided with the publication of a Moody’s report on peso-denominated debt in the country.

The Central Bank of Argentina (BCRA) auctions off short-term peso-denominated bonds, including letters of liquidity or Leliqs, to drain excess peso cash from circulation. The interest paid on