"Argentina's Economy Minister Luis Caputo traveled to Washington over the weekend to accelerate the financial bailout that U.S. President Donald Trump had promised to his Argentine counterpart Javier Milei. Markets had been expecting news last Sunday night, before trading opened, but the first announcement didn't come until Monday. U.S. Treasury Secretary Scott Bessent, who is leading the negotiations, posted a message on Monday welcoming Caputo and anticipating productive discussions on the several options to support Argentina."
"On Tuesday, there was total silence not even a hint of commitment. Markets are growing anxious over the White House's lack of concrete decisions, and Milei's government is finding it increasingly difficult to keep the peso stable. On September 23, Bessent announced on social media that the Treasury was willing to grant Argentina a $20 billion currency swap, in addition to a stand-by credit line the amount of which was not specified and possibly purchasing Argentine debt bonds."
Argentina's government spent about $2.5 billion in just over two weeks to prop up the peso as foreign-exchange reserves fell. Economy Minister Luis Caputo traveled to Washington to accelerate a financial bailout promised by U.S. President Donald Trump. Markets expected a timely announcement but faced delays, and U.S. Treasury Secretary Scott Bessent initially posted a welcoming message without details. Silence from Washington heightened market anxiety and reduced confidence in Argentina's ability to stabilize the currency. Investors pulled money out, Argentine bonds plummeted, and the peso collapsed. Bessent later signaled willingness to provide a $20 billion currency swap, a stand-by credit line and possible purchases of Argentine debt.
Read at english.elpais.com
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