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Argentina s Banco Galicia bets on lower inflation, rates after HSBC deal By Reuters

Argentina s Banco Galicia bets on lower inflation, rates after HSBC deal By Reuters
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HSBC Joins Firms Exiting Argentina Amid Milei Economic Makeover

(Bloomberg) Argentine President Javier Milei is trying to draw foreign investment to help stabilize a faltering economy. Some big international companies are abandoning the country instead.Most Read from BloombergUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsUS Inflation Refuses to Bend, Fanning Fears It Will Get StuckChinese Cement Maker Halted After 99% Crash in 15 MinutesApple’s India iPhone Output Hits $14 Billion in China ShiftBond Trader Places Record Futures Bet on Ev

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HSBC joins firms exiting Argentina amid Milei s economic makeover

Foreign companies reluctance contrasts with local optimism; Exxon and Clorox decided to divest investments in Argentina.

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Argentina s Banco Galicia bets on lower inflation, rates after HSBC deal

Argentina s Banco Galicia, buying HSBC s local assets in a near $500 million deal, is betting that new libertarian President Javier Milei will bring down soaring inflation and ease rates to boost.

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Argentina s Banco Galicia bets on lower inflation, rates after HSBC deal

Argentina's Banco Galicia, buying HSBC's local assets in a near $500 million deal, is betting that new libertarian President Javier Milei will bring down soaring inflation and ease rates to boost lending in the South American nation. The local financial group's chief executive Fabian Kon told Reuters after the HSBC deal was confirmed that Milei's pro-market approach and tough fiscal policies should benefit the banking sector and help bring down inflation running over 275%. "As Argentina converges to lower inflation rates and lower interest rates you will see an explosive increase in credit," he said in a phone interview.

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