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.
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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
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Argentina recently received sovereign rating upgrades to ‘B-’ from Fitch and S&P, lifting it out of the ‘CCC’ category
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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
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He said Argentina has largely stayed out of international markets because of borrowing costs and is seeking cheaper alternatives to Wall Street
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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
