Overview
- Argentina’s central bank publicized a US$20 billion currency swap with U.S. authorities, describing it as a tool to strengthen reserves and expand monetary and exchange-rate instruments.
- Officials said the arrangement is part of a broader strategy to support macroeconomic stability and safeguard price dynamics during periods of market volatility.
- Buenos Aires Province Governor Axel Kicillof labeled the move “a failure squared,” contrasting it with past IMF support and casting it as evidence of failed policy.
- Kicillof, speaking at a CGT provincial plenary in La Plata, warned that the national government plans labor, pension and tax overhauls and alleged it could try to enact them by decree if voters reject them.
- The event, held days before the Oct. 26 legislative elections, gathered union and political leaders including Labor Minister Walter Correa, CGT’s Héctor Daer, Antonio Di Tomasso, Sergio Palazzo, Hugo Moyano (h), Jimena López and La Plata Mayor Julio Alak.