The World Bank has announced a US$2-billion guarantee for Argentina, which will enable the country to refinance its debt at a reduced cost, according to a statement released on Thursday. The administration of President Javier Milei faces the obligation of servicing private debt amounting to approximately US$4.3 billion in July. The guarantee, which remains subject … Read more
Argentina’s government has set ambitious goals to reduce country risk, yet these aspirations appear misaligned with the current reality, potentially leading to a missed opportunity for re-entering debt markets, according to investors. Javier Milei’s administration opted against issuing in January, considering it prohibitively expensive despite sovereign spreads reaching eight-year lows and growing anticipation. Currently, momentum … Read more
As President Javier Milei engages with investors in New York to generate interest in Argentina’s resurgence, the progress surrounding the country’s bonds has significantly slowed. Despite the achievements – his administration has managed inflation, is restoring Central Bank reserves, and easing currency controls; it has also sanctioned a long-anticipated labor reform – Argentina’s bond spreads … Read more
A technical staff team from the International Monetary Fund arrived in Buenos Aires on Thursday, aiming to conduct an audit of Argentina’s economic program. Javier Milei’s administration secured a US$20 billion loan with the Fund last April, adding to an existing US$45 billion debt incurred during Mauricio Macri’s government in 2018. To secure an impending … Read more
As the deadline approached for Argentina to fulfill its obligations to bondholders, amounting to billions, President Javier Milei sought assistance from a well-known figure. Bankers at JPMorgan Chase & Co contributed approximately US$340 million as part of a multi-bank repurchase agreement this month, providing Argentina with essential liquidity. The agreement has elevated the bank’s overall … Read more
Ecuador’s notable re-entry into global credit markets is perceived as a positive sign among investors who are keenly anticipating Argentina’s eventual return after years of exclusion from international financing. Ecuador executed a sale of US$4 billion in bonds on Monday, marking its largest global offering to date and its inaugural sale following the debt restructuring … Read more
The Argentine Treasury Attorney General’s Office has submitted a formal request to the Southern District Court of New York, seeking to suspend the discovery process mandated by the court, along with the contempt motion initiated by Burford Capital in the ongoing trial concerning the 2012 expropriation of the state-owned energy company YPF. The government, in … Read more
A report by the Congressional Research Service, the public think tank of the United States Congress, has indicated that Argentina may face the necessity of devaluing its currency or defaulting on its debt. The document, dated December 30 but released this week, stated that “Argentina’s main source of foreign currency is the remaining balance on … Read more
Argentina has obtained a loan amounting to US$3 billion from a consortium of international banks, aimed at addressing an imminent foreign debt obligation and restoring the nation’s dwindling financial reserves. The Central Bank announced a one-year repurchase agreement – or repo – with lenders at a rate of 7.4 percent, according to a statement released … Read more
According to a source, Argentina’s Treasury is gathering greenbacks in preparation for a big bond payment that is due this week. These greenbacks are being acquired by the Treasury in order to acquire dollars that are entering the local market thanks to the privatization of hydroelectric power facilities. According to a source, the Treasury Department … Read more