LatinNews Daily - 28 May 2025

*BBVA Argentina, the Argentine subsidiary of Spanish bank BBVA, has announced that it will issue debt in US dollars on the domestic market for a nominal amount of US$20m, which can be increased to US$100m and which will mature in 12 months. According to a BBVA press release, the funds raised will be used by the bank to authorise loans in US dollars to companies, mainly for activities relating to foreign trade and productive investment. BBVA describes the issuance as “an opportunity for investors seeking to protect and profit from their savings in dollars”. It follows last week’s announcement by the government led by President Javier Milei of a new programme designed to encourage Argentines to bring back US dollar savings held in foreign bank accounts or bring out dollars kept “under the mattress”. On 26 May the government announced it would issue a five-year peso-denominated bond in an auction taking place today (28 May) which seeks to raise up to US$1bn and matures in 2030. The bond is aimed at foreign investors who can purchase it in US dollars. Argentina’s economy minister, Luis Caputo, hailed the peso-denominated bond auction, writing on social media that “Argentina regains access to international markets to refinance capital debt in local currency”.

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