Minister of Economy Luis Caputo confirmed today negotiations with private banks for an amount equivalent to US$7 billion, in parallel with the decrease in the country risk to 639 points.
He stated that this agreement would be aimed at paying off the government's maturities for January of the coming year, totaling US$4 billion. Caputo also took the opportunity to deny negotiations for US$20 billion with banks.
The minister emphasized: "We want to ensure that the January payment does not cause the reserves to decrease." He also mentioned that the offered amount by the banks is between US$6 and 7 billion, and they are considering how much to take.
According to Caputo, the country risk will decrease in the coming weeks thanks to this agreement, which will be reinforced by the package of laws that will be sent to the National Congress.
The minister's statements brought some calm to investors and euphoria for Argentine stocks trading in New York. Specifically, increases of up to 9% were recorded in the best cases, demonstrating the confidence placed in Caputo's words. Among the most significant increases were Central Puerto (8.5%), Supervielle (7.4%), and Globant (7.1%).
Regarding bonds, the results were mixed: the AL35 fell 0.4% while the AL30 gained 0.2%. As a result, the country risk decreased and closed this Tuesday at 639 points, 1.2% less than the last figure.
President Javier Milei concluded the "Leaders" event, ratifying the fiscal balance consolidated during his administration and differentiating himself from former President Mauricio Macri.
