Argentina's Country Risk Falls to 493 Basis Points, Nearing Milei-Era Low

Argentina's country risk index fell to 493 basis points on Monday, June 1, 2026, approaching the 481-point low recorded in late January, the smallest since President Javier Milei took office in December 2023. The J.P. Morgan indicator closed May at 498 points. The decline below 500 points suggests Argentina could issue debt at around 9%, according to Roberto Geretto of Adcap Grupo Financiero, potentially clearing the 2026-2027 financial program sought by the IMF and markets. However, Milei's administration has signaled it will only issue at sustainable rates. Argentina's central bank bought $2.6 billion in May, nearing its $10 billion annual accumulation target after reaching $9.749 billion in the first five months of 2026. The benchmark S&P Merval stock index rose 2.71%, while local bonds edged up 0.1%. The peso weakened 0.53% to 1,417 per dollar in the interbank market.