On September 25, 2024, Argentina's country risk, as measured by JP Morgan, fell below 1,300 basis points, reaching its lowest level since May. The current index stands at 1,276 points, a notable improvement that has led to a recovery in Argentine bonds, which have seen an average increase of 20%.
The financial stability is reflected in the steady rates of financial dollars, with the MEP at $1,203 and the 'contado con liqui' at $1,217, while the blue dollar remains at $1,245. This decline in country risk is crucial for Argentina's reintegration into global financial markets.
The lowest point under President Javier Milei's administration was recorded in April, when the country risk hit 1,100 points. Market estimates suggest that to access credit again, the JP Morgan indicator must fall below 1,000 basis points, a threshold not achieved in five years. The last significant drop occurred after a debt swap in 2020, but it did not maintain that level.