OIL & GAS Argentina investors see rally in YPF bonds running out of steam 21-09-2023 23:07 Investors saying it’s time to sell bonds from Argentina’s state-run oil driller YPF SA ahead of the presidential elections in October.
ELECTION 2023 Adviser details ‘urgent’ economic measures Milei plans for Argentina 21-09-2023 14:48 Darío Epstein, a top economic adviser to the libertarian presidential candidate, questions latest measures announced by Economy Minister Sergio Massa and details Javier Milei’s plan for government.
BLOOMBERG – ANALYSIS Argentina’s assets to watch before key primary election 10-08-2023 15:20 Argentines will head to the polls in a nationwide primary election on Sunday, with traders watching closely for signs of regime change in the debt-ridden nation mired in yet another economic crisis.
MARKET TURBULENCE Peso drops to all-time low on parallel markets as Massa lays out IMF deal 24-07-2023 19:18 Strong volatility on the markets – while bonds in foreign currency appreciated after the pre-agreement with the IMF and the announcement of foreign exchange measures, the informal currency jumped to a new record. What analysts say. by Lorena Rodríguez
MARKET REACTION Investors say Massa optimism offers brief respite 27-06-2023 08:53 Argentine bonds among biggest gainers in emerging markets after the ruling Peronist bloc coalesced around Economy Minister Sergio Massa.
DEBT SWAP Government hails ‘historic’ seven-trillion-peso debt swap 09-06-2023 20:47 Just under 78 percent of creditors sign up to voluntary debt swap, a measure President Alberto Fernández’s administration described as “very successful.”
BLOOMBERG - ANALYSIS Frantic push to solve sovereign debt crises irks Wall Street 28-05-2023 10:14 A shakeup is brewing in the US$1.6 trillion universe of emerging-market sovereign debt — whether Wall Street likes it or not.
CURRENCY CONTROLS CNV removes loophole with new MEP, CCL restrictions 25-05-2023 16:39 Government tightens ‘cepo’; Officials want to remove loopholes enabling purchasing of cheap dollars on the stock market in order to resell them at a higher price at Central Bank’s expense.
PARAGUAY ELECTIONS Paraguay presidential hopeful has a plan to win investment-grade status 29-04-2023 06:17 Recent polls show a tight race between Efraín Alegre, a career politician leading a coalition of conservatives and leftists, and the ruling Colorado Party’s candidate, Santiago Peña.
COURT RULING Argentina loses US$1.5-billion UK case over GDP-linked bonds 05-04-2023 10:47 Argentina must compensate investors for losses in the country’s growth-linked securities after the nation changed the method of calculating gross domestic product, a London court ruled.
POLITICAL ANALYSIS Massa on fire 25-03-2023 05:01 It’s been clear for some time now that Massa’s plan to resist through Peronist gradualism could reach a limit in terms of how many sources of fresh funds he’ll be able to conjure up. by Agustino Fontevecchia
Bloomberg Argentina's credit rating cut by Fitch on public-sector debt swap 24-03-2023 19:09 Argentina's credit rating has been downgraded by Fitch Ratings to the lowest level above default as the government plans to force state institutions to dispose of their holdings of dollar-denominated bonds.
DEBT PILE Argentina confirms plans to force debt swap on state entities 23-03-2023 17:08 State banks and ANSES social security agency must swap 100% of foreign bond holdings for peso-denominated debt, decree confirms.
LOCAL DEBT PILE Argentina sells US$2 billion in peso debt after ordering bond swap 22-03-2023 21:56 Argentina sells close to 417 billion pesos (US$2 billion) in peso-denominated notes and bonds via auction, latest step in managing a massive local debt pile as the government seeks to extend maturities until after October elections.
Central Bank reserves Government obliges state bodies to convert dollar bonds into pesos 22-03-2023 17:00 State entities are to sell their dollar bonds on the market in return for peso debt bonds issued by the Treasury with the aim of taming surges in the CCL and MEP parallel but legal exchange rates.
MARKETS Bonds slide after government orders public sector sale 22-03-2023 12:17 Argentina’s sovereign-risk spread over US Treasuries widened as many as 126 basis points on Wednesday to almost 2,500, its widest in four months.
Bloomberg Government wants to swap public sector local debt for 2026 bonds 21-03-2023 13:10 Officials want to sell new bonds maturing in 2026 and 2027, lengthening the sovereign debt maturity curve as a way of sending a signal to the private sector to also extend their maturities.
DEBT SWAP OFFER Argentina's officials, analysts disagree on results of debt swap 12-03-2023 08:56 Participation in last Thursday's debt swap may have been less than reported, with government officials and analysts disagreeing on how the results should be counted.
DEBT SWAP Government swaps US$21.7 billion of debt, easing default fear 09-03-2023 23:11 Argentina exchanges 4.34 trillion pesos (US$21.7 billion) in a local debt swap, alleviating immediate concerns of a potential local debt default.
DEBT SWAP Argentina looks to buy time on US$37 billion of maturing debt 09-03-2023 13:27 Argentina is expert at buying itself time to pay off debt that’s coming due, and on Thursday it plans to use its hard-earned skills to delay bond repayments of an estimated US $37 billion until after a presidential election.
DEBT SWAP Argentina to swap peso debt to ease US$35-billion default fear 07-03-2023 11:04 Argentina will give investors the chance to exchange holdings of local debt into new bonds; Government wants to ease fears of a default on US$35 billion of local debt due in second quarter.
DEBT SWAP Argentina to offer local debt swap to ease default fears 06-03-2023 16:46 Government will offer investors chance to swap local debt holdings for new bonds in a bid to calm fears of a default.
Bloomberg Argentina looks to roll over US$1.6 billion of local debt mountain 15-02-2023 11:48 Local debt auction will serve as a final test of local investors' appetite for government peso debt as annual inflation continues to soar.
BLOOMBERG - ANALYSIS Argentina is buckling under strain of US$174-billion debt mountain 10-02-2023 14:36 Cut off from global credit markets, Argentina’s government is selling ever more local currency bonds, amassing a debt load that already totals 33 trillion pesos and is rising almost exponentially.
Debt bond buyback What’s a default? Argentina’s debt buyback splits S&P, Moody’s 27-01-2023 14:35 The world’s most-watched credit assessors are split after Moody’s Investors Service classified Argentina's plan to repurchase its debt in the open market as a distressed exchange.
BOND BUYBACK Argentina’s bond buyback plan sets off Moody’s default alarm 26-01-2023 15:10 Plan to repurchase US$1 billion of overseas bonds meets the definition for a default, according to Moody’s.
Plan Massa Peronist gradualism 21-01-2023 05:46 Once again Sergio Massa has taken the spotlight. As the electoral year gets going, he seems to be placing his bets on managing to bring inflation down while keeping the economy in positive territory to become the main candidate for the pan-Peronist coalition, Frente de Todos. by Agustino Fontevecchia
DEBT INTERVENTION Argentina’s US$1-billion bond buyback is baffling investors 19-01-2023 14:25 While repurchasing the bonds at a fraction of their face value could ultimately save the country hundreds of millions of dollars in interest and principal payments, investors point out that the government doesn’t have very much room in Central Bank coffers to fund such a lavish buyback.
MARKETS Bonds jump as government stuns market with billion buyback 19-01-2023 02:53 Economy Ministry is using dollars held by the Treasury to fund the buyback, including money it expects to save from energy imports it presumes it won’t need in 2023, according to sources.
BLOOMBERG - OPINION Argentina’s bond buyback seems to make little sense 19-01-2023 02:45 It is generally thought that it is better to buy back bonds when they are cheap than when they have just posted a sharp rise, but perhaps Massa knows something we don't.
MARKETS Venezuela’s nine-cent bonds lure a distressed-debt veteran 28-12-2022 14:16 Trader raising money to buy defaulted Venezuelan bonds amid signs of easing tensions between President Nicolás Maduro, the political opposition and the United States.
MARKETS Latin America debt set for a comeback as politics give a break 12-12-2022 09:59 Dollar-denominated debt from Latin American governments and companies has handed investors returns of more than 10% so far this quarter, outperforming all other regions in an emerging-market index.
Bloomberg Argentine bond rebound stalls as new minister faces a mountain to climb 18-08-2022 16:53 Initial market confidence in Sergio Massa has faltered. New “super” minister must prove he can turn his promises to slow inflation into reality, as debt rebound decelerates.
Bloomberg New Latin American government bonds are rarest find for EM buyers 05-08-2022 22:16 It’s slim pickings for investors seeking fresh sovereign bonds from Latin America as the region’s pipeline of new foreign debt empties faster than in any other pocket of emerging markets.
Bloomberg Argentina is running out of cash to stave off devaluation 02-08-2022 18:10 Argentina teeters on the precipice of severe financial crisis. Peso devaluation looms, with potential for hyperinflation.
Bloomberg Argentina’s bonds rise amid reports of a cabinet shakeup 28-07-2022 15:34 The markets have responded favourably to rumours Economy Minister Silvina Batakis could be replaced by lower house speaker Sergio Massa, which was reported by local media late Wednesday night.
BLOOMBERG IDB boosts Latin America ESG bond campaign with US$1-billion push 12-07-2022 15:55 Inter-American Investment Corporation is helping companies in Latin America and the Caribbean bring about US$1 billion of environmental, social and governance bonds.
BLOOMBERG Government may offer put option on local bonds to entice buyers 12-07-2022 10:03 Central Bank in talks with private lenders about adding a put option to local bonds, according to sources.
Markets Argentine debt plumbs new depths as political tensions mount 11-07-2022 15:43 Even by the standards of Argentina’s debt crisis and default of 2020, the nation’s sovereign bonds are now trading at unprecedented lows.
DEBT TALKS Paris Club requires Argentina stick to IMF deal to rework debt 07-07-2022 14:20 Paris Club group of wealthy creditors says government must give assurances that it will comply with IMF deal if talks over restructuring of debt are to continue.
Bloomberg Government meets June debt rollover goal in key local auction 28-06-2022 21:48 Government sells enough securities to roll over its debt coming due in the month of June in a local debt auction, easing concerns of an immediate financing shortfall.
BLOOMBERG Default jitters mount in Argentina as local yields top 70% 27-06-2022 13:12 Two years after Argentina emerged from its latest default, a debt crisis in brewing once again.
BLOOMBERG Argentina eases 60% of June debt burden in local swap 22-06-2022 23:12 Economy Ministry exchanges 358 billion pesos (US$2.9 billion) in local securities due at the end of the month for new notes maturing later this year; Move reduces pressure on government to reach key rollover tender next week.
BLOOMBERG Argentina bonds drop to record as faster CPI swells debts 22-06-2022 17:32 Argentina’s sovereign bonds fell to a record low Wednesday, extending a two-week slump.
And that reminds me… Economic questions 18-06-2022 08:15 There is a massive sale of risk financial assets on a global scale, not just Argentine bonds (even if more unattractive than most). by Michael Soltys
DEBT RESTRUCTURING Argentina formalises debt repayment deferment with Paris Club 31-05-2022 13:07 President Alberto Fernández's government reaches a deal with the Paris Club to postpone payments on more than US$2 billion of debt for more than two years.
BLOOMBERG Bond chaos in Argentina sparks traders’ rush to provincial notes 25-04-2022 15:36 Investors are snapping up securities issued by the provinces of Córdoba, Neuquén, Mendoza and Chubut, turning them into the nation’s top performers this month.
BLOOMBERG YPF leads emerging-market bond gains 31-03-2022 13:29 Only 14 months ago YPF was a nightmare for investors. Now, the state-run oil company is producing the best fixed-income returns in all of emerging markets.
BLOOMBERG Argentina's IMF deal fails to revive bonds stuck around 30 cents 29-03-2022 16:56 Argentina's bonds maturing in 2035 are little changed since President Alberto Fernández’s administration reached an agreement with IMF.
PARIS CLUB DEBT Postponement of Paris Club debt payment gives breathing room 23-03-2022 15:39 Argentina's government has secured an extension of an agreement with the Paris Club group of rich nations that allows it to postpone an imminent payment of about US$2 billion.