by Amruth Sundarkumar | Oct 31, 2022 | Sovereign Bonds, Sovereigns
Argentina’s Economy Minister Sergio Massa said that the country has reached an agreement with the Paris Club regarding $2bn of its outstanding debts. This agreement would help Argentinian firms to access credit from European institutions, he said. As per a...
by Amruth Sundarkumar | Oct 27, 2022 | Credit Ratings, Sovereign Bonds, Sovereigns
Argentina was downgraded to CCC- from CCC by Fitch on the back of several factors. Fitch believes that the nation’s external liquidity position is weak and even its local-currency repayment capacity stands compromised. Its forex reserves have been under pressure...
by Amruth Sundarkumar | Jun 23, 2022 | Sovereign Bonds, Sovereigns
Argentina’s sovereign bonds dropped to record lows, continuing its 2 week descent. Their dollar bonds due 2030 have slipped to ~23.5 cents on the dollar, the lowest since its issuance two years ago. Based on a JPMorgan index, spreads over the US Treasury yields have...
by Amruth Sundarkumar | Jun 9, 2022 | Sovereign Bonds, Sovereigns
The IMF has reached a staff level agreement with Argentina regarding an updated macroeconomic framework. The agreement would allow the troubled nation to access $4.03bn in funds from the multilateral lender. The IMF said that targets relating to “the primary...
by Amruth Sundarkumar | Apr 26, 2022 | Sovereign Bonds, Sovereigns
Dollar bonds of Argentina’s provinces like Cordoba, Neuquen, Mendoza and Chubut are among the top gainers in April and in Q1, outperforming the sovereign government’s dollar bonds. In Q1, some of the provincial bonds rallied about 13% while the government...
