US EditionBessent confirms $20B ‘economic stabilization agreement’ signed with Argentina
The $20 billion swap aims to stabilize Argentina's peso amid 200% inflation, with U.S. taxpayers exposed to potential losses as private banks demand guarantees.
- On September 24, Treasury Secretary Scott Bessent announced a $20 billion swap to exchange taxpayer dollars for Argentine pesos, supporting the currency after talks with President Donald Trump and President Javier Milei.
- With 2023 inflation exceeding 200%, Argentina had run out of foreign currency and President Javier Milei urgently needs dollars, prompting U.S. intervention, Bessent said.
- According to reporting, a group of banks including JPMorgan Chase, Bank of America, Citigroup, and Goldman Sachs is organizing a $20 billion facility financed by banks and private equity, with guarantees being sought, linked to hedge fund billionaire Robert Citrone.
- The rescue could saddle U.S. taxpayers with costs up to $40 billion, while President Donald Trump admitted the bailout offers little direct benefit, and Treasury Secretary Scott Bessent called it a good deal despite President Javier Milei's plans failing.
- Earlier this month, the Argentine peso has fallen since October 15, while the central bank and U.S. Treasury intervene by buying pesos with dollars, with Morgan Stanley finding stability unlikely below 1,700 pesos to the dollar.
22 Articles
22 Articles
Bessent intervened with US$ 1.8 billion in two weeks.The rest corresponds to the Central Bank and the Argentine Treasury.Tension in Washington for the dollars.
Bessent fires back at Warren’s $20B Argentina deal critique, invokes infamous fascist leader
Treasury Secretary Scott Bessent hit back at Sen. Elizabeth Warren, D-Mass., defending the Trump administration’s decision to provide Argentina a $20 billion currency swap line with Argentina’s central bank earlier in October. Bessent’s response came after Warren issued a letter voicing concern and requesting answers on why the Trump administration was moving forward with providing Argentina a financial lifeline as its economy struggles, particu…
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kkoh.comBessent Calls $20B Argentina Plan ‘Mission-Critical’
Finalizing a $20 billion financial support framework for Argentina during the government shutdown is an essential duty for the United States, according to Treasury Secretary Scott Bessent. Bessent's assessment came in response to a letter from Sen. Elizabeth Warren, D-Mass., the ranking member of the Senate Banking Committee, who wrote to Bessent asking why the Treasury Department was pursuing the Argentina initiative while federal operations we…
Use the $40 Billion to Dollarize Argentina
Earlier this week, the United States signed an agreement with Argentina for a $20 billion swap line, to be augmented with an additional $20 billion provided by private sources. The objective is to prevent a collapse of the peso that would derail the country’s disinflation program and trigger a defeat of President Javier Milei’s party in upcoming congressional elections. This bailout is a terrible idea—it hands over $40 billion in US public and p…
Argentina's $20 Billion Bailout: Financial Oxygen or Geopolitical Mortgage? - teleSUR English
The currency swap agreement for 20 billion dollars between the Central Bank of the Argentine Republic (BCRA) and the US Department of the Treasury was announced by President Javier Milei as a “historic rescue” that provides breathing room for reserves and stabilizes the exchange rate. However, behind the rhetoric of economic success lies a more complex geopolitical and social background: a new subordination to global financial power and a strate…
By Elisabeth Buchwald, CNN Completing the $20 billion bailout for Argentina with public funds during the US government shutdown was an essential action for the agency, Treasury Secretary Scott Bessent said Tuesday. His comments came in response to a letter from Senator Elizabeth Warren, ranking member of the Senate Banking Committee, who wrote to Bessent a week earlier requesting an explanation as to why the Treasury Department was working on th…
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