With just days to go before Argentina had to pay billions in debt to bondholders, President Javier Milei turned to a familiar face for help.
Bankers at JPMorgan Chase & Co ultimately chipped in about US$340 million as part of a multi-bank repurchase agreement this month that handed Argentina much-needed cash. The deal has brought the bank’s total exposure to Argentina to about US$2 billion, its highest level in a decade, according to people familiar with the matter.
It’s the third time in less than a year that JPMorgan has stepped forward to bolster the Latin American country’s dwindling stash of dollars. The series of transactions shows Argentina – which has reneged on its debt nine times since its independence in 1816 – is once again drawing the attention of Wall Street after lenders spent years on the sidelines.
With Economy Minister Luis Caputo focused on preparing for Argentina’s return to international bond
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