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DatabankMarch 7 2023

Spanish banks most exposed to Argentina

In 2023, the South American country’s high inflation is expected to surpass 100% and economic growth estimated at 0.3%. Barbara Pianese reports.
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Spanish banks are the most exposed to Argentina, with around $24bn in total claims, according to data from the Bank for International Settlements.

Banks from Spain have increased their presence in the South America country, outpacing US lenders in the past 20 years. US banks’ exposure is now more in line with that of the UK and Brazil.

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Barbara Pianese is the Latin America editor at The Banker. She joined from Mergermarket, where she spent four years covering mergers and acquisitions across Europe with a focus on the consumer sector. She holds an MA in International and Diplomatic Affairs from the University of Bologna having studied in Brazil and France as well.
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