Caputo Tells Bankers Argentina to Build Reserves, Buy Back Bonds

Economy Minister Luis Caputo told investors in New York that Argentina plans to buy back sovereign bonds and start accumulating foreign reserves even while the peso trades within its band, according to people with direct knowledge of the matter.

During a meeting with about 40 investors hosted by JPMorgan Chase & Co. on Friday, Caputo said President Javier Milei doesn’t intend to float Argentina’s currency, but will keep it trading within established bands, according to the people, who asked not to be identified discussing a private gathering.

However, Caputo said he could consider speeding up the pace of band ...