In the early stages of 2026, Argentina's gross public debt displayed a mixed trend, according to the latest data from the Secretariat of Finance. At the end of January, the total liabilities of the Central Administration stood at approximately $460.934 billion, reflecting a monthly increase of $5.867 billion. Importantly, a significant portion of this debt, amounting to approximately $458.398 billion, is categorized as in a 'normal payment' situation by the government.

The 1.29% rise in total debt occurred even though the Argentine government managed to complete payments equivalent to $18.033 billion during January alone. Notably, 73% of the payments were made in national currency, while the remaining 27% was settled in foreign currency, illustrating a strategic approach to managing debt amid ongoing financial challenges. This dynamic highlights a balancing act in the government's fiscal strategy, where increases in local currency instruments offset reductions in foreign currency debt.

As Argentina navigates its complex economic landscape, the fluctuations in public debt reflect ongoing challenges, including inflation and currency valuation concerns. The government’s efforts to manage its debt responsibly while maintaining liquidity in different currencies may have far-reaching implications for its fiscal policy and economic stability as it progresses through 2026.