La emisión de deuda y los bonos: cómo funcionan, de qué tipo hay y en qué se diferencian de los TES

TL;DR

Bond issuance is an alternative for governments to obtain resources when income does not cover expenses.
Types of bonds include internal (local currency) and external (foreign currency).
Investors lend money to the state in exchange for capital plus agreed-upon future interest payments.
Governments use these funds to cover deficits and finance public projects or needs.
Bonds have varying maturity terms, commonly 1, 2, 3, 5, and 10 years, or longer.
Treasury Bills (TES) are a specific type of bond, not a distinct mechanism.
TES typically focus on financing the state with specific terms (pesos, UVR, dollars), while corporate or global bonds are broader in issuers and currencies.

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