Argentina in talks with banks for loan of up to $7bn
Argentina is negotiating with international banks for a loan worth as much as $7 billion, Economy Minister Luis Caputo said Wednesday, as the country seeks to manage shrinking foreign reserves and meet debt payments due in January.
Speaking at a forum in Buenos Aires, Caputo said banks had offered between $6 billion and $7 billion, but the government had yet to decide how much to accept. He added that the goal is to ensure January’s coupon payments do not significantly reduce reserve levels. Local media estimate upcoming debt maturities at around $4.2 billion.
Argentina is currently operating under a $20 billion programme with the International Monetary Fund, which has urged the government to boost its reserve accumulation. As of December 3, the central bank reported reserves of $41.9 billion.
Caputo dismissed reports that Argentina initially sought a $20 billion loan from private banks before reducing the request to $5 billion. He insisted banks were never willing to lend such an amount, calling earlier claims “a lie.”
He clarified that the $20 billion figure mentioned in October by US Treasury Secretary Scott Bessent referred to discussions with the United States and two other countries, not private banks. Caputo did not name the other countries involved.
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