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US buys Argentine pesos, agrees to $20 billion swap line, Bessent says
The U.S. Treasury's $20 billion currency swap and direct peso purchase aim to stabilize Argentina's economy amid acute illiquidity before its Oct. 26 midterm elections.
- The U.S. has finalized a $20 billion currency swap framework with Argentina's central bank, as confirmed by Treasury Secretary Scott Bessent on social media.
- Bessent clarified that this credit swap is not intended as a bailout for Argentina.
- Argentina's President Javier Milei praised Bessent's announcement, calling his economy minister, Luis Caputo, the 'best Minister of Economy in all of Argentine history.'
- Critics, including U.S. farmers and Democratic lawmakers, argue that the deal benefits a country that has harmed U.S. agricultural interests.
263 Articles
263 Articles
The U.S. Treasury Department on Thursday completed a $20 billion currency swap with Argentina, buying pesos. It is fulfilling President Donald Trump's promise to help his ally Javier Miel's struggling economy. The move has drawn criticism from some of his supporters, who have vowed during the campaign and after his election that U.S. money would no longer be used to help foreign countries.
U.S. Begins Implementation of $20 Billion Bailout for Argentina
Treasury Secretary Scott Bessent announced that the U.S. has begun implementing parts of a bailout for Argentina by finalizing a $20 billion currency swap with Argentina’s central bank. Argentina’s far-right President Javier Milei is an ally of President Trump. On Thursday, eight Democratic senators introduced a bill that would prevent the Treasury Department from rescuing Argentina’s economy. Democratic Senator Elizabeth Warren said, “It is inex
DECRYPTAGE - The support, announced by Washington, covers $20 billion. The challenge is to stop the fall of the peso and avoid a new monetary crisis.
Trump Throws Milei a $20 Billion Lifeline
The U. S. Treasury has finalized a $20 billion currency swap framework with Argentina, buying pesos to support the struggling country, fulfilling President Donald Trump’s commitment. This move has led to a significant increase in the value of the Argentine peso and its bonds. In Thursday’s trading, the Argentine 2035 bond rose by 4.5 cents, […] The post Trump Throws Milei a $20 Billion Lifeline appeared first on Modern Diplomacy.
The U.S. government buys Argentine Peso and announces a $20 billion swap line. Milei urgently needs support before the parliamentary elections at the end of October, but could still fail.
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