Reported 2 days ago
Argentina has announced a $1 billion repurchase agreement with five international banks to replenish its central bank's foreign reserves, marking a significant achievement for President Javier Milei. The repo agreement, which is set for two years and four months, involves banks like Citigroup and JPMorgan. This move is anticipated to aid in stabilizing the country's economy, which is recovering from recession despite ongoing challenges such as high inflation and poverty rates. Investors are optimistic as Argentina's sovereign risk has significantly decreased.
Source: YAHOO