One of the highlights of Balbi's early career came on June 3, 1995, when he beat Simon Canache to claim the South American lightweight title.
After the fight Balbi returned to Argentina, where he put together a run of five wins before losing a split decision to Walter Hugo Rodriguez.
Balbi remained undefeated over his next sixteen bouts, earning him a chance to fight Alberto Esteban Sicurella in a WBA title eliminator.
Balbi won the fight by tenth round technical knockout, which led to a world title challenge against the French champion Julien Lorcy on October 8, 2001, in Paris.
A run of six consecutive wins earned Balbi another shot at the WBA title, this time for the vacant light welterweight belt.