Argentina taps foreign banks for $3bn loan ahead of debt repayment
One-year repo agreement will also help Javier Milei’s government build vital dollar reserves
One-year repo agreement will also help Javier Milei’s government build vital dollar reserves

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

Facility builds on previously announced $20bn swap line as Washington seeks to boost libertarian ally Javier Milei

Changes aim to build reserves and quell investor concern about President Javier Milei’s economic policy

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

Monetary authority intervenes in currency market for third time this week, selling $678mn on Friday

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