Argentine policymakers are in talks with major international banks to extend the maturities of repurchase agreements (repos) to help reduce the government’s debt burden ahead of the 2027 election year.
President Javier Milei’s government is in talks with banks to collapse the three repos it negotiated since 2025 into a single one worth at least US$5 billion due in 2028 or later, after the presidential race, said two people familiar with the matter. Those banks expect the operation, which is not final, to come together within a month, the people said. The interest rate has not yet been set, News.Az reports, citing BuenosAiresTimes.
In a recent meeting with investors, Central Bank Governor Santiago Bausili sought to allay concerns about repo maturities, saying officials were working on a solution ahead of time, according to another person familiar with the matter, who requested anonymity to discuss the private conversation.
Argentina’s Central Bank did not immediately respond to a request for comment.
Argentina most recently landed a US$3-billion repo led by Santander, BBVA and Deutsche to help make January bond payments. The nation has more than US$20 billion in debt maturities in 2027, according to Barclays, an imposing figure given it’s also an election year and market turmoil can’t be ruled out.
In mid-2025, the Milei administration signed a two-year, US$2-billion repo loan with international banks set to mature in 2027, on top of a similar US$1-billion, two-year deal signed earlier.
“Our financial programme is practically covered in its totality,” Economy Minister Luis Caputo said at a May 8 press conference. “At most, next year we may have to refinance some US$2 billion to US$2.5 billion. If the market is at a reasonable level, we may go to market. But as I always say, we are exploring alternative sources of financing.”
Argentina’s latest credit upgrade has fuelled bets that the country will get another shot at tapping international markets after missing a window in early 2026.
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