Argentine Wall Street Banks Head to Meet with Government Authorities on Javier Milei’s Program and Bond Prospects

Bankers from Wall Street will meet with the Government on Monday to oversee bonds and investments

In the wake of the ruling party’s defeat in Congress and uncertainty in the market due to the fall of its first law, Argentina’s main Wall Street banks are set to embark on a visit starting tomorrow to meet with government authorities and discuss Javier Milei’s program, bond prospects, and possible investments.

The visit will be led by representatives from Barclays, Bank of America, Citigroup, Goldman Sachs, and HSBC along with a group of clients (mostly investment funds) to talk with officials from the Executive, Ministry of Economy, and Central Bank as well as businessmen, political consultants, and economists.

Argentine bonds have been affected by Milei’s rise to power and her promises for a shock plan. Dollar titles rose up to 14% but last week they fell almost 7% after the setback suffered by the omnibus law and the war unleashed with governors. Each investor will have different agendas based on their interests in other countries where they invest.

Barclays will arrive this Monday in Buenos Aires followed by other entities including Jane Fraser, CEO of Citibank who will arrive next Friday. HSBC executives will do so in the last week of February. The operation became known after Milei had virtually met Larry Fink CEO of JP Morgan who estimated double-digit inflation until Q1 2023 with a distinct jump in official dollar in June. He also confirmed that “the main risks are governability and population tolerance to adjustment”.

The interest shown by these investors is evident through their frequent trips within the next three weeks. A significant amount of travel indicates that there is interest in understanding more about Argentina’s economic future under Milei’s leadership.

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