US EditionU.S. banks shelve $20 billion bailout plan for Argentina
Major U.S. banks reduced planned financing to a $5 billion collateralized repo to manage risk and help Argentina cover a $4 billion debt due in January, sources said.
- A planned $20 billion bailout for Argentina has been shelved by JPMorgan Chase, Bank of America, and Citigroup in favor of a smaller loan package, according to the Wall Street Journal.
- Bankers are now proposing a $5 billion short-term loan instead, which will assist with a $4 billion debt payment due in January.
- The smaller package reflects Wall Street's demand for collateral and credible institutions amid Argentina's history of defaults and fragile finances.
- The funds will help cover a $4 billion debt payment due in January but will not resolve Argentina's long-term financial issues, according to the Wall Street Journal.
32 Articles
32 Articles
U.S. Banks Scrap $20 Billion Lifeline For Argentina, Offer Smaller Fix
The massive Wall Street rescue that was supposed to anchor Javier Milei’s economic turnaround is shrinking fast. A plan under which JPMorgan Chase, Bank of America and Citigroup would mobilize up to $20 billion in financing for Argentina has been put on hold, with the banks instead working on a much smaller short-term package of […]
US banks shelve $20 billion bailout plan for Argentina, WSJ reports
A planned $20 billion bailout to Argentina from JPMorgan Chase , Bank of America and Citigroup has been shelved as bankers pivot instead to a smaller, short-term loan package, the Wall Street Journal reported on Thursday, citing sources.
According to a report from the Wall Street Journals, JPMorgan Chase, Bank of America and Citigroup are supposed to negotiate a smaller, short-term loan instead.
US banks shelve US$20 billion bailout plan for Argentina, WSJ reports
A PLANNED planned $20 billion bailout for Argentina from JPMorgan Chase, Bank of America and Citigroup has been shelved as bankers pivot instead to a smaller, short-term loan package, the Wall Street Journal reported on Thursday, citing sources.
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- 43% of the sources are Center, 43% of the sources lean Right
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