# Argentina country risk — EMBI+ today

**URL:** https://rueda.live/en/macro/riesgo-pais  
**Markdown URL:** https://rueda.live/en/macro/riesgo-pais.md  
**Language:** en  
**Data source:** J.P. Morgan EMBI+ via argentinadatos.com  
**Updated:** 2026-04-27T19:24:44.488Z  
**License:** MIT — attribution to Rueda AI (https://rueda.live) appreciated

> Argentine country risk (J.P. Morgan EMBI+) in basis points. Latest level, 30-day change, range average and historical series.

## Current values

| Metric | Value |
|---|---|
| Latest | 557 bps |
| As-of | 2026-04-24 |
| 30-day change | -44 bps |
| 30-day change % | -7.32% |
| 90-day min | 484 bps |
| 90-day max | 637 bps |
| 90-day mean | 556,4 bps |

## Last 30 daily observations (bps)

| Date | Value |
|---|---|
| 2026-03-16 | 601 bps |
| 2026-03-17 | 587 bps |
| 2026-03-18 | 610 bps |
| 2026-03-19 | 602 bps |
| 2026-03-20 | 633 bps |
| 2026-03-23 | 600 bps |
| 2026-03-24 | 603 bps |
| 2026-03-25 | 595 bps |
| 2026-03-26 | 583 bps |
| 2026-03-27 | 615 bps |
| 2026-03-30 | 637 bps |
| 2026-03-31 | 617 bps |
| 2026-04-01 | 612 bps |
| 2026-04-02 | 612 bps |
| 2026-04-03 | 609 bps |
| 2026-04-06 | 611 bps |
| 2026-04-07 | 610 bps |
| 2026-04-08 | 570 bps |
| 2026-04-09 | 557 bps |
| 2026-04-10 | 553 bps |
| 2026-04-13 | 528 bps |
| 2026-04-14 | 525 bps |
| 2026-04-15 | 527 bps |
| 2026-04-16 | 518 bps |
| 2026-04-17 | 519 bps |
| 2026-04-20 | 526 bps |
| 2026-04-21 | 533 bps |
| 2026-04-22 | 532 bps |
| 2026-04-23 | 549 bps |
| 2026-04-24 | 557 bps |

## What is country risk and how to read it

**Country risk** is the spread Argentine sovereign USD bonds trade at over comparable-maturity US Treasuries. It is expressed in **basis points (bps)**: 1,000 bps = 10% extra annual yield.

The most-used index for Argentina is J.P. Morgan's **EMBI+ Argentina**. It reflects the market-implied probability of default: below 500 bps signals high confidence, 500-1,000 bps normal stress, 1,000-2,000 bps nervous market, and over 2,000 bps expectations of restructuring or default.

For investors, country risk determines the cost at which Argentina can refinance debt: at 1,500 bps, a new USD issuance would pay ~17-18%, effectively closing markets. Dropping below 700 bps is the informal threshold for returning to international bond markets. That is why every 100-bps move is front-page financial news.

## FAQ

### What is Argentina's country risk today?

We show the latest published value above, with its 30-day change, the visible-range average and a historical chart.

### What is the EMBI+?

Emerging Markets Bond Index Plus, from J.P. Morgan. It is the amount-weighted average spread of a country's USD sovereign bonds over the equivalent Treasury. Variants include Global and Diversified; Argentina traditionally tracks the strict EMBI+.

### How does country risk relate to the FX rate?

Two sides of the same macro fear. When country risk rises, the market prices in trouble paying USD debt — usually reserves or fiscal deficit — which pressures the MEP/CCL. Correlation is imperfect but strong.

### How is country risk computed?

For each sovereign USD bond, subtract the equivalent Treasury yield to get a spread. Weight each spread by outstanding amount. Duration-adjust. The result approximates the average premium the market demands.

### What country-risk level does Argentina need to issue debt again?

Historically, under 700 bps is the informal threshold that enables USD issuance at viable rates (8-9%). Over 1,500 bps typically means markets are closed; refinancing depends on multilateral lenders or debt swaps.

## Related pages

- [Inflation](https://rueda.live/en/macro/inflacion) — Markdown: https://rueda.live/en/macro/inflacion.md
- [Dólar en Argentina](https://rueda.live/en/dolar) — Markdown: https://rueda.live/en/dolar.md

## Disclaimer

Data is fetched from public third-party APIs. Values are for information only and do not constitute financial advice.