As Argentine corporations look to improve operational efficiency within their respective treasury operations amid the country’s return to international markets, financial executives in Buenos Aires convened at Bloomberg LP’s first Foreign Exchange Summit in the capital this month.
Bloomberg remains highly proactive in engaging with clients and market participants about its core FX offerings. The company invited corporate executives to discuss the role that Argentina plays in the markets now, as well as the challenges and opportunities it faces as Argentine president Mauricio Macri works to restore the country as a destination for foreign direct investment (FDI) and a healthy environment to conduct business. The key focus on financial operations management led to lively discussion and offered new insights to executives on the country’s changing investment landscape
“Argentina has tremendous potential,” Tod Van Name, Bloomberg‘s head of global FX and Commodities electronic trading said. “Investors around the world are taking a hard look at recent changes and are interested in knowing much more about future opportunities.”
International investors should go to and engage with the local market to perceive the depth and bridge the gap, benefitting companies that need investments for USD30 million to USD150 million, said Horacio Aguilar, the Regional Managing Director of Puente Investment Banking, one of the speakers at the Bloomberg summit.
To attract investors, Argentina needs to focus on openness, liquidity, regulation and risk management (through derivatives), said Alberto Estrada, the chief executive of Mercado Abierto Electrónico (MAE, Open Electronic Market). Today, regulators are looking for the country to foster the capital market by modifying its legal framework to provide more possibilities, he added.
Corporate plans to start or expand energy, farming and infrastructure industries are very interesting, said Douglas Elespe, the CEO of FIX (affiliate of Fitch Ratings). He added that other countries in similar positions to Argentina have taken five years to get investment grade status.
The event was held this week and was hosted by Bloomberg‘s Foreign Exchange business (FXGO). The company’s suite of foreign exchange tools helps currency professionals control exposure and risk, while taking advantage of market opportunities in real-time.
