Overview
- Washington has enabled $20 billion through the Exchange Stabilization Fund to stabilize Argentina’s currency market, according to recent reports.
- A bank consortium led by J.P. Morgan has prepared an additional loan reported up to $20 billion, but it remains unsigned due to demands for collateral and seniority that the IMF opposes.
- Banks are negotiating higher rates of roughly 7%–9% and shorter 5–7 year maturities compared with the IMF’s cheaper, longer-term financing.
- President Javier Milei arrived in Miami to speak at the American Business Forum, attend a CPAC gala in Palm Beach, and then meet investors in New York at the Council of the Americas.
- J.P. Morgan CEO Jamie Dimon praised Milei’s economic program in a Reuters interview and said the bank is willing to consider financing if Argentina seeks it.