Milei to fulfill Dimon, communicate to CEOs two days earlier than key election

Argentine President Javier Milei will meet with Jamie Dimon through the JPMorgan Chase & Co chief govt’s go to to Buenos Aires this week, based on folks accustomed to the matter.

Milei, who faces an important midterm vote Sunday that might decide the destiny of his free-market reforms, will maintain talks with Dimon and different JPMorgan executives on Friday, the folks mentioned, requesting anonymity as a result of the data isn’t public. The president may also ship a speech to Latin American CEOs at an occasion organised by the Wall Avenue financial institution.

JPMorgan declined to remark and Milei’s workplace didn’t instantly reply to a request.

The libertarian president has been attempting to stave off a run on the peso as Argentines search shelter in arduous forex forward of the election. US Treasury Secretary Scott Bessent has pledged his full assist, signing a US$20-billion swap line with Argentina’s central financial institution and dealing to line up private-sector financing of the identical quantity.

JPMorgan and Citigroup Inc. had been energetic in Argentina’s spot forex market on Wednesday, when the peso snapped a five-day shedding streak with US assist. Bessent’s Treasury bought about US$400 million to prop up the native forex, Financial system Minister Luis Caputo advised LN+ tv Thursday, confirming an earlier Bloomberg Information report. 

Dimon is visiting the Argentine capital as a part of high-level conferences that had been organized effectively earlier than the newest market panic gripped Argentina. The JPMorgan CEO repeatedly meets with world leaders when he visits their international locations, and the financial institution introduced a number of months in the past will probably be increasing its footprint and headcount in Buenos Aires. 

by Stephen Wicary & Hannah Levitt, Bloomberg