Overview

• Market and consultants estimate Argentina needs to raise between US$6.2 billion and US$6.6 billion by December to meet the IMF’s revised reserve goal.
• Treasury-led initiatives under discussion include block purchases, privatizations, asset sales and concessions alongside potential external debt placements.
• The IMF staff report calls for more active BCRA participation in liquidity management and clearer guidance on the monetary and exchange-rate regime.
• Argentina’s gross reserves of roughly US$42 billion amount to just 54% of the adequacy level estimated by GMA Capital at about US$93 billion.
• Upcoming elections and shifts in country-risk spreads could determine the government’s access to international financing.