Argentina is attracting the attention of the world’s top Wall Street banks, as representatives from Barclays, Bank of America, Citigroup, Goldman Sachs and HSBC are set to meet with government officials and business leaders tomorrow to discuss Javier Milei’s program and the prospects for investments in the country.
The visit is expected to be led by Jane Fraser, CEO of Citibank, who will arrive next Friday. The rest of the entities will follow suit in the coming weeks. The main objective of the trip is to contact potential investors with businessmen and some authorities in an effort to rediscover Argentina.
Investors have shown interest in rediscovering Argentina, despite recent setbacks such as the fall of Milei’s first law and rising inflation concerns. BlackRock bought last week US$ 1.8 million of the Bopreal dollar bond, with which the government seeks to regularize commercial debt. However, JP Morgan issued cautionary signals about Argentina, estimating double-digit inflation until at least Q1 2023 and warning that “the main risks are governability and population tolerance to adjustment.”
The banks’ research departments are hoping that their clients will be able to meet with key government officials such as Minister of Economy Luis Caputo and his Secretary of Finance Pablo Quirno, head of Central Bank Santiago Bausili and its vice president Vladimir Werning during their trip. Despite this trip being within the framework of annual visits organized by these banks across different countries in the region, there is still a lot of interest in rediscovering what makes Argentina an extraordinary country despite its economic instability.