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Argentina fully repaid the $2.5bn it drew from a $20bn swap line with the US, while also meeting a $4.3bn payment to global bondholders, underscoring improved near-term financing conditions. US Treasury Secretary Scott Bessent said the swap was “quickly and fully” repaid, leaving the US with no peso exposure and generating a profit for US taxpayers. Argentina’s bond payment was supported by a $3bn, one-year repo loan from six international banks, secured against local bonds due 2035 and 2038. Analysts note that the repayments highlight strengthening market sentiment toward President Javier Milei’s reform agenda and renewed US backing ahead of and after October’s midterm elections. Officials are now focused on restoring full market access to rebuild reserves and refinance upcoming maturities, with a $1bn local-law issuance in December seen as a precursor to an international global bond sale. Argentina faces another $4.3bn payment in six months, but investors expect improved access by then, aided by recent currency policy changes that allow a more flexible peso and a reserve accumulation target of $10bn this year.
Argentina’s dollar bonds rose with its 4.125% 2035s up by 0.5 points to 75.6, yielding 9.75%.
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