Argentina secures USD 7 billion investment deal in New York

Argentine officials concluded high-level visits to New York, resulting in a significant infrastructure agreement and political friction. A key outcome was the signing of the Andes-Atlantic Corridor agreement between Argentina and the United States, which projects up to USD 7 billion in investments starting in 2027 for sectors including energy, mining, transport, and telecommunications.

During the trip, Buenos Aires Governor Axel Kicillof met with New York Mayor Zohran Mamdani at Gracie Mansion to discuss management experiences. Kicillof also held meetings with investment funds, where he criticized the national government’s Large Investment Incentive Regime (RIGI). This prompted a public rebuke from National Minister Luis Caputo, who accused the governor of attempting to “scare international investors.”

While JP Morgan analysts noted that Argentina could reach investment grade by 2027 if current economic trends hold, recent domestic data shows a 2.9% decline in July activity and a poverty rate of 32.3% for the first half of the year.