Argentina’s central bank secured a USD 1 bln repurchase agreement with international banks, with an interest rate of 8.8% (4.75% plus SOFR). This deal aims to bolster international reserves and is priced 150-200 bps below Argentina’s external bond yields. President Javier Milei indicated that inflation around 2.5% in December could lead to a reduction in the official FX crawling peg to 1% and the eventual removal of FX controls.