Overview
- Argentina faces roughly US$4.2 billion due on January 9 for capital and interest on restructured sovereign bonds.
- The Treasury holds about US$1.8–2.0 billion in deposits after raising roughly US$1.0 billion via a Bonar 2029 sale and is weighing a short‑term repo of about US$2.0–2.3 billion, with the U.S. swap facility kept as a backstop.
- The central bank began a banded float on January 1 indexed to the latest monthly inflation, lifting January’s ceiling by 2.5% to roughly $1,529–$1,533 per dollar and pledging reserve purchases up to 5% of daily volume.
- International reserves stand near US$43.1 billion after a US$1.934 billion rise from start‑of‑month flows, the BCRA did not buy in the FX market on the debut day, and the official dollar is about $1,495 with parallel rates elevated.
- The government is negotiating with the IMF to adjust the reserve target and unlock about US$1.05 billion tied to the program’s second review as markets track risk premium near 553 basis points.