"The Donald Trump administration began the long-promised financial rescue for Argentina on Thursday. After four days of negotiations in Washington with the Argentine economic team, U.S. Treasury Secretary Scott Bessent reported that they had intervened in the foreign exchange market with direct purchases of Argentine pesos and that a $20billion currency swap agreement had been finalized. The lifeline provided by the United States is key to supporting the government of Argentine President Javier Milei in the run-up to the legislative elections on October 26."
"The @USTreasury has concluded 4 days of intensive meetings with Minister @LuisCaputoAR and his team in DC. We discussed Argentina's strong economic fundamentals, including structural changes already underway that will generate significant dollar-denominated exports and foreign Treasury Secretary Scott Bessent (@SecScottBessent) October 9, 2025 The U.S. Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets, Bessent said in a lengthy post on X."
"Bessent argued that Argentina needed immediate help to address its serious liquidity problem. Only the United States can act swiftly. And act we will, Bessent continued. Milei's first reaction was to praise Argentina's economy minister, Luis Caputo. By far the best economy minister in Argentine history...! Long live freedom, damn it! he said on social media alongside a photo of the two of them. Milei will meet with Trump next Tuesday, October 14, at the White House."
The United States initiated a financial lifeline for Argentina, intervening in the foreign exchange market with direct peso purchases and finalizing a $20billion currency swap agreement. Treasury Secretary Scott Bessent said the U.S. completed four days of talks with Economy Minister Luis Caputo and highlighted structural changes expected to boost dollar-denominated exports. He pledged the Treasury will take exceptional measures immediately to stabilize markets and address Argentina's liquidity problem, stressing only the United States can act swiftly. The support aims to strengthen Javier Milei's government ahead of the October 26 elections; Milei, who praised Caputo, will meet Donald Trump at the White House on October 14.
Read at english.elpais.com
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