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US buys Argentine pesos, agrees to $20 billion swap line, Bessent says
The $20 billion swap aims to stabilize Argentina's currency amid market collapse risks, with U.S. Treasury also directly purchasing pesos to support liquidity, officials said.
- The United States purchased Argentine pesos and finalized a $20 billion currency swap line with Argentina's central bank, according to Treasury Secretary Scott Bessent.
- Bessent stated that the credit swap is not a bailout, despite criticism from U.S. farmers and lawmakers.
- Argentina's dollar-denominated bonds rose about 10% and the Buenos Aires stock market surged 15% following Bessent's confirmation of the credit line.
- Observers criticized the intervention, suggesting it is a pre-election reward rather than a strategic partnership.
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135 Articles
135 Articles
The US government bought Argentine pesos today and finalized a $20 billion currency swap arrangement with Argentina's central bank, US Treasury Secretary Scott Besant said, sending the peso and Argentine dollar bonds soaring.
·Belgrade, Serbia
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What’s the Deal With Argentina? And Why Are We Bailing Them Out?
PULSE POINTSWHAT HAPPENED: Argentine President Javier Milei’s government teeters on the brink as his country faces a significant currency crisis, kicked off by several major corruption scandals and a flight of investors from the Argentine peso—despite a $20 billion U.S. rescue package.WHO WAS INVOLVED: Javier Milei, U.S. President Donald J. Trump, and U.S. Treasury Secretary Scott Bessent.WHEN & WHERE: The currency crisis has ravaged Argentina f…
Coverage Details
Total News Sources135
Leaning Left19Leaning Right15Center41Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 25%
C 55%
R 20%
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