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1h ago

U.S. Banks Pivot to $5 Billion Repo for Argentina as $20 Billion Rescue Fades

Treasury officials express confidence in Argentina, with collateral terms still undisclosed.

Un letrero de Wall Street cerca de la Bolsa de Valores de Nueva York. (AP Foto/Yuki Iwamura)
No habría rescate de Estados Unidos
El envión poselectoral reavivó en la city la expectativa de que Luis Caputo retome la lógica de 2016/17: apertura del crédito externo, nuevas colocaciones y un verano marcado por dólares frescos.
Reunión del presidente Javier Milei con el CEO del J.P. Morgan, Jamie Dimon.

Overview

  • JPMorgan, Bank of America and Citigroup have largely dropped a proposed $20 billion private financing, according to reporting cited from The Wall Street Journal.
  • Banks are now discussing a roughly $5 billion short‑term repo that would provide dollars against an Argentine investment portfolio pledged as collateral.
  • Funds would target an estimated $4.0–$4.5 billion foreign‑currency payment due in January, with subsequent international bond issuance contemplated to repay the repo.
  • Talks are preliminary and could change or fail, and banks could face losses if market conditions worsen or Argentina cannot place new debt.
  • The U.S. Treasury voiced confidence in President Javier Milei and Economy Minister Luis Caputo, and Caputo is expected to brief investors in early December; separate reports note IMF SDR transfers and a rise in short‑term swaps.