Argentina gets seven bids from entities for ~$1 trillion REPO loan: source familiar with the negotiation

BUENOS AIRES, Feb 14 (Reuters) – Argentina’s economy ministry has received seven offers from financial entities for a repo loan of around $1 trillion at a rate of less than 10%, an official revealed on Tuesday. source close to the negotiation.

“Details are being finalized,” he said without giving further details.

Analysts believe that the southern country is looking for alternatives to replenish the rare reserves of the central bank (BCRA) at a time of falling foreign currency inflows from the agro-export sector and in view of the objectives committed to the International Monetary Fund (IMF).

The objective is to reconstitute the net reserves of the BCRA, estimated Portfolio Personal Inversiones and underlined that “this loan from the banks would be at the head of the Treasury, for

that later he can sell the dollars to the BCRA and thus be counted as a net reserve”.

(Reporting by Walter Bianchi; Editing by Eliana Raszewski)