World Bank’s IFC Triples Argentina Loans on Holdout Resolution

Source: Bloomberg
By: Charlie Devereux
05.24.2016

The World Bank’s International Finance Corporation is more than tripling its investment in Argentina this year after President Mauricio Macri’s government began carrying out economic reforms and resolved a 15-year legal battle with holdout creditors.

The IFC will lend about $1.8 billion to Argentina’s private sector this calendar year compared with $500 million in 2015, Liz Bronder, director for Latin America and the Caribbean, said by phone from Buenos Aires. That total includes a $378 million loan to oil producer Axion Energy Argentina SA to expand its plant in Buenos Aires province, Bronder said.

“Many years ago Argentina was the largest single country that we had exposure to and then in the last five years we’ve almost done no financing in Argentina given the conflict of several member countries of IFC around the holdout issue,” Bronder said. “When the government announced their programs that helped stabilize the macroeconomic situation and the move toward negotiations with the holdouts we were able to finance freely what demand we could see in the country.”

External Link: CLICK HERE FOR FULL ARTICLE.

  • VII Concurso Internacional de Vinhos do Brasil (Wine)
  • New York Times 36 Hours in Buenos Aires
  • Alternative Latin Investor
  • Artful Living (Mansion)
  • Avid Magazine (AWE)
  • BlackBook Mag (Mansion)
  • CNN (AWE)
  • Conde Nast Traveler (Mansion)
  • Delta Sky Magazine (Mansion)
  • Departures (AWE)
  • Elite Traveler (Mansion)
  • Finger Lakes International Wine Competition (Wine)
  • Fodor's Choice 2013 (Mansion)
  • Fodor's Choice 2013 (Wine Estates)
  • Fodors (AWE)
  • Forbes Life (Mansion)
  • Frommer's Best Vineyards & Hotels Around the World
  • Andrew Harper’s Grand Awards 2013
  • International Wine Challenge U.K.
  • 2013 International Wine & Spirit Competition (Wine)
  • Kiwi Collection (Mansion)
  • Kiwi (AWE)
  • National Geographic Traveller 2012
  • Order Wine Direct (Wine)
  • Robb Report Exceptional Places 2012
  • Tablet Hotels (Mansion)
  • Telegraph (AWE)
  • Mediterranean International Wine & Spirits Challenge (Wine)
  • Travel+Leisure
  • Trip Advisor Top 25 Hotels for Romance Argentina
  • Unique Homes (AWE)
  • USA Today (Mansion)
  • 2013 Vinalies Internationales Paris d'or (Wine)
  • Vinandino 2013 (Wine)
  • VINUS 2014 (wine)
  • WAWWJ 2014 (Wine)
  • Wine Enthusiast (AWE)