Argentina's Neuquén Province to issue first international bond since 2017
Neuquén province is initiating a roadshow in New York to market its first international bond issuance in nearly a decade. The move is supported by increased fiscal revenue from the Vaca Muerta shale oil formation, though the success of the issuance remains contingent on broader investor appetite for Argentine sub-sovereign debt.
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Argentina Fiscal Stability: IMF Targets Missed Amidst Debt Increase and Budget Expansion
Argentina's economic team increased debt by USD 1.726 billion and recorded a June primary fiscal deficit, confirming a shortfall against IMF targets. Despite this, the government maintained a first-half fiscal surplus and successfully issued USD 620 million in bonds, while private dollar deposits reached a 25-year high. The Milei administration also expanded the budget by 4.45 trillion pesos for state entities and intelligence, indicating a recalibration of spending priorities amidst ongoing fiscal consolidation efforts.