Arg corporates face new hurdles as central bank limits dollar access

Argentina, court, law, documents, contract, judge, restructuring, LatAm, 575
By Oliver West
17 Sep 2020

Argentina’s recently restructured international bond curve looks further than ever from the 10% yield target that the finance minister had set. New currency controls aimed at halting the decline in international reserves have had a catastrophic impact on both corporate and sovereign bond markets, and are likely to spell major trouble in the long term, analysts say.

With Argentina’s diminishing international reserves reaching a low level, on Tuesday evening central bank governor Miguel Ángel Pesce announced a series of measures further limiting access to its pile of dollars for companies and individuals.   

Most shockingly for bond markets, this included amortisation and maturity repayment needs for ...

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