Starting tomorrow, representatives from some of the world’s largest financial institutions will visit Argentina to discuss investment opportunities with government officials and other stakeholders. The trip, led by representatives from Barclays, Bank of America, Citigroup, Goldman Sachs and HSBC, will include a group of clients (mostly investment funds) who are interested in Javier Milei’s program and the prospects of sovereign bonds.
The visit comes after Milei’s rise to power and her promises to advance a shock plan that caused dollar titles to rise up to 14% but fell back to almost 7% after the setback suffered by the omnibus law and the war unleashed with governors. BlackRock bought last week US$ 1.8 million of Bopreal dollar bond, which is aimed at regularizing commercial debt of companies. However, large banks in the US issued cautionary signals about Argentina due to concerns over governability and population tolerance for adjustment.
The research departments of these banks hope that their clients will be able to meet with key government officials such as Minister of Economy Luis Caputo, Secretary of Finance Pablo Quirno, head of Central Bank Santiago Bausili and its vice president Vladimir Werning during their visit. However, it is worth noting that there are many trips organized every year in different countries in the region within this framework.