Argentina secures $1 billion repo deal to boost reserves
Agreement with five unnamed international banks will be in effect until 2027
The Central Bank of Argentina (BCRA) has bolstered its dollar reserves by securing repurchase agreements worth $1 billion with “five leading international banks”.
On January 3, the central bank announced in a statement that the agreements would be in place for two years and four months. The BCRA will pay an interest rate equivalent to the dollar secured overnight financing rate, plus a spread of 4.75%. This amounts to a fixed rate of 8.8% per year.
The central bank said it had received bids for $2
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