Argentina has declared its desire to issue a local law bond denominated in dollars, taking advantage of the momentum that has been created in the wake of President Javier Milei’s resounding victory in the congressional midterm elections that were held in October. The Ministry of Economy has said that the Bonar bond is scheduled to … Read more
Argentina’s Economy Ministry announced on Friday the issuance of a local-law bond denominated in U.S. dollars, aimed at addressing the debt maturities scheduled for January. The newly issued bond, designated as BONAR 2029N, is set to be tendered on December 10, with a maturity date in 2029 and a semiannual coupon rate of 6.5%. The … Read more
Argentina is in discussions with banks regarding a potential loan of up to US$7 billion, as stated by Economy Minister Luis Caputo on Wednesday, in light of decreasing international reserves and upcoming debt obligations in January. During an event featuring prominent business leaders, the official discussed negotiations amounting to between US$6 billion and US$7 billion … Read more
Despite a chorus of calls from investors, President Javier Milei and his advisers exhibit caution regarding the swift accumulation of Argentina’s international reserves, the decision to allow the peso to float, and the relaxation of currency controls. The government’s decisive triumph in the recent mid-term elections has provided Milei with a significant opportunity to implement … Read more
The Argentine government has confirmed the elimination of export duties for conventional crude oil, following a meeting involving Economy Minister Luis Caputo, Interior Minister Diego Santilli, and Chubut Governor Ignacio Ramírez. The national and provincial governments have entered into a memorandum of understanding aimed at eliminating the 8% tax in Chubut. The agreement emerges amidst … Read more
Argentine officials are poised to make a decision by year-end regarding the potential renegotiation of terms associated with a US$20-billion agreement with the International Monetary Fund, including stipulations related to foreign reserves, as per reports. A report indicated that the Central Bank governor mentioned Argentina’s intention to renegotiate reserve requirements; however, the individual clarified that … Read more
Luis ‘Toto’ Caputo has forecasted that Argentina’s economy may expand by as much as 10 percent in the coming year, contingent upon the approval of the government’s reform programme by Congress. During an event, Argentina’s economy minister remarked that confidence in President Javier Milei’s administration is on the rise following his success in the previous … Read more
The International Monetary Fund has called on Argentina to expedite the buildup of its international reserves, a primary point of contention raised by both the lender and various analysts regarding the nation’s economic strategy. At a press briefing on Thursday, IMF spokesperson Julie Kozack noted the rationale behind the petition, noting that a recent “improvement … Read more
Argentine Economy Minister Luis Caputo defended the implementation of a currency band scheme for the peso-dollar exchange rate, arguing against a free-floating system by characterizing the Peronist opposition as “communism.” The government is considering a labor reform designed to ease the process of layoffs; however, modifications to the tax system will be postponed. “We cannot … Read more
Economy Minister Luis Caputo informed investors in New York that Argentina intends to repurchase sovereign bonds and begin accumulating foreign reserves, even as the peso remains within its designated trading band, according to sources familiar with the situation. In a recent meeting attended by approximately 40 investors, organized by JPMorgan Chase & Co., Caputo indicated … Read more