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Argentina Refis Local Debt, Eases Pressure on Milei

9/12/2025

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Summary

Story summary

Argentina successfully refinanced nearly all local debt maturities in an auction, alleviating pressure on President Javier Milei after an election loss.
The government raised 6.6 trillion pesos (US$4.7 billion) in notes, with yields over 59%, reflecting high borrowing costs.
The peso traded at 1,423.5 per US dollar, nearing the IMF's upper trading band limit.
Following the election, Milei established a working group to enhance political alliances, though future actions are uncertain.
The IMF commended Argentina's inflation reduction to 1.9% in August but cautioned about interest rate volatility.

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Story summary

Argentina successfully refinanced nearly all local debt maturities in an auction, alleviating pressure on President Javier Milei after an election loss.
The government raised 6.6 trillion pesos (US$4.7 billion) in notes, with yields over 59%, reflecting high borrowing costs.
The peso traded at 1,423.5 per US dollar, nearing the IMF's upper trading band limit.
Following the election, Milei established a working group to enhance political alliances, though future actions are uncertain.
The IMF commended Argentina's inflation reduction to 1.9% in August but cautioned about interest rate volatility.