*Argentina’s central bank (BCRA) has announced a repurchase agreement (repo) worth US$1bn with five international banks, as President Javier Milei seeks to shore up international reserves. The deal will be in place for two years and four months. The BCRA said it received offers for US$2.85bn, and that it would pay the secured overnight financing rate plus a spread of 4.75% on the repo line. Although the BCRA did not name the banks in question, sources consulted by the international press said that US financial institutions Citigroup Inc and JPMorgan Chase & Co, Spanish banks Banco Bilbao Vizcaya Argentaria SA and Banco Santander SA, and Chinese state-owned bank Industrial and Commercial Bank of China Ltd participated in the deal.
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LatinNews Daily - 6 January 2025
In brief: Argentina announces repurchase agreement
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