Minister of Economy, Louis CaputoHe once again outlined the economic course before an audience of executives and analysts, denying that Argentina had received financing proposals for 20,000 million US dollars From international banks. He also explained that negotiations with the United States – which resulted in financial aid to stabilize the exchange rate – were also included “Two more countries”Although he avoided recognizing them.
Caputo confirmed that after the elections “The dangers of coca have been decompressed“The government chose to move forward without relying on large external packages. Although, according to their statements, there were entities providing loans among US$6,000 and US$7,000 millionThe head of the Treasury Palace said:We look at how much we will takeIn this sense, he said:We said it would be good to do it on our own, it’s a better sign that Argentina is capable of reforming itself“.
Luis Caputo estimated how many reserves the BCRA will be able to add in 2026
During his presentation, Caputo insisted that the risks to the country must continue to decline because “The economy is recovering strongly and we are sending important laws to Congress that will be a boost to the economy“. He also confirmed: “We are in a better position than at any time since this presidency began. Closer than ever to hitting the markets again“To boost reserves without generating new internal tensions.
Caputo explained that the official intention is Rebuild reserves without returning to the emission and sterilization systemHe confirmed that the exchange ranges system will remain in effect. Based on budget projections, he detailed the scenario for 2025: “If the monetary base remains constant, it will grow in nominal terms by 25%. It will allow us to purchase approximately $7 billion, without the need for sterilization“.
He then added that if money demand increased by a point or two of GDP, BCRA could get “7 thousand, 10 thousand, 14 billion dollars“And even”Nearly $21 billion, without having to pay interest on it“.
In his speech, he also attacked the opposition sectors: “They want the country to do something bad“And that’s why”They invent the impossible“He stressed that”For me, it is important to alert people to the impossible. Now they say that it is impossible to buy or accumulate reserves“.
Caputo defended the official actions by highlighting that “The fund wants us to buy reserves, the market wants it and we want it. We are the team that has purchased the most bookings so far“And if it makes a difference:”Buying reserves is not the same as accumulating themAlong these lines, he explained that although he obtained “Standard amount of reservations“And it was difficult to standardize it because”Huge debts“Inherited.”We did nothing but pay off the debt“, He said.
The Minister stressed that during the coming months, accumulation will be easier thanks to “Access to markets“The entry of foreign exchange from the concessions. He specifically stated that because of the hydroelectric power plants that were recently granted,”$700 million is coming“, resources which he defined as”Reserves without negative correlation“. He also mentioned that privatization processes such as Aysa, Aerolíneas Argentinas or Banco Nación They will have the same effect.
He again defended the exchange scope system by saying that it would continue to work because “Argentina remains a country with a lot of fluctuations in demand for money and politics“Because it’s automatic.”It has been tested in most countries with a stabilization process and has lasted for years“.
As the conclusion approached, Caputo reinforced his optimistic outlook: “This train has already started. We are about to experience the best economic cycle, at least since I was born. The sooner we board the train, the more we can be sure that no one will stop Argentina“.
The government is analyzing the return to the debt market
The national government is advancing preparations for Argentina’s return to international bond markets in early 2026, after nearly eight years Without sovereign emissions abroad.
As stated BloombergAnd officials of the economic team headed by the Minister Louis Caputo They are working on a strategy that would make it easier to take on new debt if financial conditions continue to improve.
According to what the agency reported from sources Argentine bond yields in dollars Get close to me 10%Which is the level that Kabuto considers appropriate for him Evaluate a future problem.
The official roadmap contemplates not only a new title; Complementary operations aimed at reducing the cost of financingamong them:
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Buy back bonds through a repurchase agreement.
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Possibility of exchanging debts for investments in educationWhich, if achieved, could contribute to reducing spreads and improving market access.
If the process is complete, it will be Argentina’s first return to the international market since 2018.
at that time, Country danger It has decreased to approx 360 basis pointsthe lowest level of that management. Taking advantage of that window, the Treasury issued approx 9,000 million US dollars In various segments and currencies, whether in dollars or euros.
The Argentine move coincides with an increase in international placement activity within the region. The most notable cases are:
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Santa Fe She announced that she would seek her arrest Up to 1000 million US dollars In New York.
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he Central Bank of Uruguay (BCU) and Ministry of Economy and Finance (MEF) They plan to put on this week 20.1 billion Uruguayan pesos Through three titles.
At the local level, the Governor of Buenos Aires Axel Kiselov It asked the legislature to obtain a license for new credit operations, while denouncing the situation “Financial suffocation” By the national government.