Argentina has moved closer to a return to international debt markets by addressing two key issues that have concerned investors: an overvalued peso and a shortage of hard-currency reserves.
The nation’s Central Bank said Monday it will begin to gradually unwind the tight grip it keeps on the currency. Starting in January, it will let it trade within a range that expands in line with inflation – effectively moving to a pace of about 2.5 percent a month, from a current one percent. Officials also said they’re going to start slowly buying up dollars to build back the Central Bank’s depleted cash stockpile without jolting the currency too much.
Put together, the policy changes add to President Javier Milei’s momentum at home and on Wall Street, where he looks to mount a comeback to g
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