US EditionUS buys Argentine pesos, agrees to $20 billion swap line, Bessent says
- On Wednesday, US Treasury Secretary Scott Bessent said US assistance could total 40 billion for Argentina, including a new 20 billion facility supported by private banks.
- Last week, Scott Bessent spent weeks on a private-sector solution while the US Treasury set up a $20 billion swap line and began buying Argentine pesos.
- The strong US showing unfolded on the sidelines of the IMF and World Bank annual meetings in Washington, with the International Monetary Fund supporting America’s bilateral aid to Argentina.
- Politically, support is tied to enacting "good policy" and Javier Milei retaining a blocking veto, while Milei voiced hope elections would increase his legislative base on Wednesday.
- This support arrives as Javier Milei faces an uphill battle in crucial midterm elections later this month, and President Donald Trump hosted Milei at the White House warning `If he loses, we are not going to be generous with Argentina`.
288 Articles
288 Articles
Scott Bessent, U.S. Treasury Secretary, announces that financial aid to Argentina could reach $40 billion. Details of the plan, involved and market reactions.
Watauga Democrat
US says working on new $20 bn 'facility' for Argentina
US Treasury Secretary Scott Bessent on Wednesday said he was working to rally the private sector around a new $20 billion "facility" to support Argentina's embattled economy.
Even MAGA is fuming after Trump official ups pledge to 'total of $40 billion for Argentina'
On Tuesday afternoon, October 14, U.S. President Donald Trump met with visiting Argentina President Javier Milei at the White House. Trump is offering the South American country, which has suffered major problems with its currency, a $20 billion bailout. Trump, talking to reporters, made it clear that the bailout money is conditional on the right-wing Milei staying in office. Trump told reporters, "If he loses, we are not going to be generous wi…
UPDATE 1-US buys more Argentine pesos, working on $20 billion debt facility, Bessent says
The U.S. again purchased Argentine pesos in the open market on Wednesday, Treasury Secretary Scott Bessent told reporters, adding that the department was working with banks and investment funds to create a $20 billion facility to invest in the South American country's sovereign debt.
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