U.S. Treasury Secretary Scott Bessent has declared that the United States acquired pesos in the Argentine market today as part of ongoing negotiations in Washington aimed at supporting President Javier Milei’s administration. Finance specialists remarked that this type of direct intervention in the local forex market by the U.S. was “unheard of.” Bessent stated “Today … Read more
Argentina’s local debt auction on Wednesday did not meet market expectations, as President Javier Milei’s administration managed to roll over only 61 percent of maturities in a crucial auction. Analysts suggest that this outcome may lead to a depreciation of the peso. The Treasury executed a rollover of 9.1 trillion pesos from the 15 trillion … Read more
Javier Milei’s reforms have introduced a degree of stability to Argentina’s previously tumultuous foreign exchange market, garnering commendations from investors. However, the overhaul is simultaneously driving the most significant wave of corporate defaults observed since the pandemic. Local borrowing costs are experiencing a significant increase, particularly impacting companies that rely heavily on the peso. Many … Read more