Argentina targets investment grade rating by 2031, Caputo says

President Javier Milei’s administration is targeting investment-grade status for Argentina by the end of a potential second term in 2031, Economy Minister Luis Caputo said Monday.

Caputo, speaking to reporters at a press conference outlining the government’s financing strategy, said two of the three major ratings firms believe such a path is plausible, adding that Argentina will continue improving its fiscal metrics to strengthen its debt profile

Argentina recently received sovereign rating upgrades to ‘B-’ from Fitch and S&P, lifting it out of the ‘CCC’ category

Caputo said tapping international markets is just one option for refinancing debt, rather than an immediate goal, as the government relies on other funding sources to meet upcoming obligations

He said Argentina has largely stayed out of international markets because of borrowing costs and is seeking cheaper alternatives to Wall Street

Argentina forecasts a US$3.7-billion surplus after making its 2026 payments, and is seeking a total of US$6 billion in local debt markets, up from US$4 billion previously.

by Manuela Tobias & David Feliba, Bloomberg

In this news

personalities:

Javier Milei

Luis Caputo

topics:

Argentina

Economy

Milei Administration

Investment-grade Status

Second Term

Caputo