Argentina secures $1 billion, boosting foreign currency reserves

Argentina successfully raised $1 billion from international investors through a peso-denominated bond auction, signaling increased confidence in President Javier Milei's economic policies. This marks the country's return to international markets after a seven-year absence. The bond, offered in dollars but paying out in pesos, carries a 29.5% coupon and matures in 2030. The auction, exceeding the government's $1 billion target, aims to boost Argentina's foreign currency reserves and refinance debt maturities, according to officials. Analysts note the auction reflects growing investor appetite, driven by Milei's efforts to reduce the budget deficit and secure an IMF deal. However, concerns remain regarding exchange rate policy and the upcoming presidential election.