Weekly Report - 22 June 2017 (WR-17-24)

ARGENTINA | Historic bond issue. The government led by President Mauricio Macri announced on 19 June that it had successfully placed US$2.75bn in US-dollar-denominated sovereign bonds with a 100-year maturity in international markets. This is the first time that Argentina has been able to issue a bond with such a long maturity, sparking optimism that international financial markets now feel confident about the country’s economic prospects. This represents a major boon for the Macri administration, which succeed in reintegrating Argentina into the global economy after years of ostracism following its 2001 sovereign debt default, which it finally settled last year.

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