Hedge funds’ bets on Argentina pay off after US bailout
Emerging market and distressed debt specialists post big returns after Washington’s support and electoral win boost Buenos Aires
Emerging market and distressed debt specialists post big returns after Washington’s support and electoral win boost Buenos Aires

Buenos Aires hands back $2.5bn it drew under swap line ahead of pivotal election in October

Buenos Aires’s reserves rose by the same margin as Washington seeks to bolster Javier Milei’s government

The country needs more from the US than a $20bn swap agreement

Forward contracts indicate a 12% decline for currency despite $40bn US support package

The Treasury’s intervention holds risks for Washington

Despite excitement over libertarian’s reforms, country’s borrowing costs remain too high for it to tap foreign funding