Some of the
largest banks on Wall Street will visit Argentina
just as Javier Milei tries to recover from the great defeat that the Omnibus Law project had last Tuesday in Congress.
Debt bonds have been
falling for three days
- this Friday they started negative.
However, there is
interest in international banks and investment funds
about the direction of the country.
Representatives of
Goldman Sachs Group and Barclays
will arrive in Buenos Aires
next week, according to the
Bloomberg
news agency
.
Both firms invited
a small group of clients
to join, the people added, declining to provide further details.
Also expected to arrive in the country next week is
Citigroup's No. 1, Jane Fraser,
said a person with direct knowledge of the matter.
Fraser's last visit had been during Mauricio Macri's administration, when the group's then CEO Michael Corbat came and the executive managed Latin America.
All companies are expected to
meet with government authorities,
such as representatives of President Javier Milei's office, the
Ministry of Economy and the Central Bank.
The visits by representatives of major US banks come just days after President Milei's iconic reform package stalled in Congress for lack of support.
Alberto Ramos, Latin America analyst at Goldman Sachs
On Wednesday, Goldman Sachs convened
a virtual call between its clients and Federico Sturzenegger,
one of Milei's main advisors and who is credited with drafting the Omnibus law, where he spoke about the delays that the legislative setback could generate.
On the other side of the webcast were Alberto Ramos, Chief Economist for Latin America, and Gonzalo Tanoira, regional advisor for Argentina at the bank.
The law's fall put a dent in the rally seen in bonds
since Milei was elected on the promise of radical change to pull the economy back from the brink of its sixth recession in a decade.
Javier Milei spoke last week with Larry Fink, the number one at BlackRock, the largest investment fund in the world, who confirmed that he will visit Argentina in May to advance possible investment projects.
In turn, the Minister of Economy, Luis Caputo, received Robert Citrone, head of Discovery Capital Management, last week.