""The US Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets,""
""Together, as the closest of allies, we will make a hemisphere of economic freedom and prosperity,""
""a moment of acute illiquidity,""
""exchange rate band remains fit for purpose.""
Washington finalized a $20 billion currency swap framework with Argentina's central bank and directly purchased pesos to prop up the peso after steep declines. The intervention followed unsuccessful Argentine efforts to stabilize the exchange rate and aimed to calm markets ahead of Oct. 26 midterm elections while supporting President Javier Milei. Treasury Secretary Scott Bessent called the situation "a moment of acute illiquidity" and pledged exceptional measures to stabilize markets. The United States did not immediately specify conditions for the aid. Milei denied US demands to end an $18 billion swap line with China, and officials said the exchange rate band remains fit for purpose.
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