Argentina’s Caputo Taps a Dollar-Deposit Boom to Avoid Wall Street

Argentina · Markets Key Facts —The strategy. Economy Minister Luis Caputo is using a boom in local dollar deposits to fund debt payments instead of borrowing abroad. —The stockpile. The Treasury holds around US$3.6 billion in dollar deposits, enough to cover roughly 85% of upcoming maturities. —The payment. Argentina secured the dollars for a roughly…