US EditionUS ready to support Argentina with $20 billion swap line, Bessent says
The $20 billion US package includes a dollar swap line and bond purchases aimed at stabilizing Argentina's currency amid political setbacks and economic uncertainty, Treasury said.
- On Wednesday, US Treasury Secretary Scott Bessent said Washington is negotiating a US$20-billion swap line with Argentina's central bank after talks with Javier Milei and Donald Trump.
- After the September 7 Buenos Aires provincial election loss, Argentina's peso fell sharply, a setback seen as a test ahead of the October 26 national legislative elections.
- The Argentine currency gained 2.4%, rising to 1,333.90 per dollar, and since Friday the peso has gained over 10 percent as markets rebounded.
- Amid domestic questions, Treasury outlined additional tools, saying it stands ready to buy Argentina's USD bonds and provide `stand-by credit`, while Senator Elizabeth Warren wrote Monday calling it a troubling bailout.
- With elections approaching next month, the talks buoyed Argentina's markets and aided President Javier Milei, but analysts warn the US risks that Argentina may not stabilise or repay support.
27 Articles
27 Articles
Scott Bessent tells NYC to 'drop dead' while he arranges a $20b swap line for Argentina's chainsaw-wielding, dog-cloning president
The Treasury Secretary looks at New York and sees a replay of the 1970s. He looks to Trump's ally in Argentina, and sees someone in need of rescue.
US ready to help Argentina with $20B support package
US Secretary of Treasury Scott Bessent said Washington was ready to prop up Argentina’s economy, after an electoral setback for President Javier Milei’s government led to investors losing confidence. “Treasury remains fully prepared to do what is necessary,” Bessent said, announcing the $20 billion package. The move reflects US President Donald Trump’s personalistic approach to foreign policy: He vowed support for Milei — an ideological ally — a…
The U.S. Treasury announced this Wednesday that it will finalize a temporary funding line (swap line) with the Argentine Central Bank of $20 billion, and that it is willing to buy debt from the South American country, subject to financial pressure. “The Treasury is currently in negotiations with Argentine officials to establish a $20 billion swap line with the Central Bank. We are working closely with the Argentine government to avoid excessive …
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