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Bond Market News
Argentina Weighs China Swap for 2027 Financing Needs
October 15, 2026
Argentina plans to rely on its currency swap arrangements with China and the US to address potential financing shortfalls in 2027, according to its Economy Minister Luis Caputo. He acknowledged concerns about President Javier Milei’s re-election prospects and the government’s financing plans. In July, Argentina announced plans to issue $5bn of Bonares bonds in 2027 as part of a broader $25bn financing package. However, Caputo suspended Bonar issuance in mid-August amid elevated US Treasury yields, raising doubts about the government’s ability to secure funding through domestic-law dollar bonds. Caputo said the $19bn currency swap arrangement with China, recently renewed for five years and including an activated $5bn portion, could help bridge the potential financing gap. A separate $20bn swap line with the US also remains available to help stabilise markets ahead of the election. Meanwhile, Caputo met IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga, who praised Argentina’s economic policies. He also indicated that the government intends to resolve outstanding claims related to GDP-linked warrants, although the process will take time.
Argentina’s 3.5% 2041s traded weaker at 65.5, yielding 8.7%.
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– Vandit P
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