BUENOS AIRES, July 6 (Reuters) – Argentine Economy Minister Luis Caputo said on Monday that the country plans to refinance existing debt at lowest possible rates.
He made the remarks during a press conference on how the country will meet its debt payments through 2027.
Argentina faces a foreign-currency debt test in 2027 – the year President Javier Milei has said he will seek re-election – with over $23 billion in foreign-currency principal payments due, or more than $32 billion including interest, according to International Monetary Fund figures.
Caputo said that getting Argentina to “investment grade,” a credit rating that indicates a bond issuer as a low risk of default, will be a priority.
Argentine debt remains firmly rated in junk territory even after recent sovereign credit rating upgrades from S&P and Fitch.
Moody’s, which upgraded Argentina a year ago and gave it a stable outlook, has become more optimistic about the country’s ability to get through the 2027 payments.
(Reporting by Leila Miller and Rodrigo Campos; Editing by Kylie Madry)