Argentina's country risk index saw a significant drop on Wednesday, January 21, 2026, closing at 562 basis points according to JP Morgan's gauge. This decline reflects optimism in local and global markets, driven by a rebound in sovereign bonds and a wide trade surplus. The indicator fell seven points from the previous close of 569.
Argentina's country risk, as measured by JP Morgan's EMBI index, fell below 570 basis points on Wednesday, January 21, 2026, closing at 562 units. According to Rava Bursátil data, the indicator started the day at 572 points, hit a high of that level and a low of 561, before stabilizing at the close. This seven-point drop from Tuesday's 569 occurred amid a broad improvement in local assets, with dollar-denominated sovereign bonds gaining an average of 0.2%. The GD30 bond stood out, trading at 59.37 dollars per 100-face value sheet.
The weekly trend shows stability with a downward bias: it closed at 586 points on January 14, 566 on the 19th, and 569 on the 20th. Factors such as the 3.6% rebound in the S&P Merval index, the strength of the Central Bank's international reserves (44.808 billion dollars), and the trade surplus contributed to this compression. In contrast to November 2025, when it exceeded 650 points, the current level signals greater investor confidence.
"Argentina's economy maintains growth projections of 4% for 2026 and 2027 according to the latest International Monetary Fund report," stated Rava Bursátil in its January 19 report. This index measures the interest rate spread between emerging market bonds and U.S. Treasuries, acting as a thermometer for Argentina's ability to meet its external debt obligations.
