Wall Street Banks Heading to Argentina to Meet with Government Officials
Following the defeat of the ruling party in Congress and market uncertainty caused by the fall of its first law, major Wall Street banks are heading to Argentina. The visit led by representatives from Barclays, Bank of America, Citigroup, Goldman Sachs, and HSBC will take place tomorrow. They will meet with government officials, businessmen, political consultants, and economists to discuss Javier Milei’s program prospects for bonds and potential investments.
Investors have been monitoring the sovereign bonds that several funds bought last December. With Milei’s rise to power and her promises to advance a shock plan, dollar titles rose up to 14%, but last week they fell almost 7% after the setback suffered by the omnibus law and the war unleashed with governors. BlackRock recently bought US$1.8 million of the Bopreal dollar bond, with which the government seeks to regularize commercial debt.
The banks hope that their clients will meet with key government officials such as Minister of Economy Luis Caputo and his Secretary of Finance Pablo Quirno. However, some experts predict a more challenging period due to inflation concerns and political instability in the country. Despite this uncertainty, many investors remain interested in exploring opportunities in Argentina’s economy.