Argentina Said to Seek $10 Billion in Loans From Wall Street
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Argentina’s President Mauricio Macri.
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Loans would be repaid by the monetary authority in a year
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Argentine newspaper La Nacion reported talks earlier
Argentina’s President Mauricio Macri has kicked off talks with several Wall Street banks for $5 billion to $10 billion of loans in a bid to shore up central bank reserves, according to two people with knowledge of the matter.
Macri’s incoming Finance Secretary Luis Caputo, who traveled to New York this week, spoke with banks about backing the loans with sovereign debt owned by the central bank, said the people, who asked not to be identified because the matter is private. The loans would be repaid by the monetary authority in a year, said one of the people. A spokeswoman for incoming Finance Minister Alfonso Prat-Gay didn’t immediately reply to an e-mailed request for comment…
Argentina Said to Seek $10 Billion in Loans From Wall Street
