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6h ago

Argentina Launches Washington Talks as IMF and U.S. Treasury Coordinate SDR-Linked Support

IMF chief Kristalina Georgieva said she is coordinating with the U.S. Treasury on options that could draw on U.S. SDR reserves.

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Overview

  • Luis Caputo leads a delegation to Washington to meet Treasury Secretary Scott Bessent, with sessions expected over the weekend and into early next week.
  • Scott Bessent reiterated that the primary tool under consideration is a roughly US$20 billion currency swap, stressing it would not be a direct cash transfer.
  • Kristalina Georgieva confirmed a call with Bessent and said discussions include using U.S. holdings of IMF SDRs, adding she expects talks with Argentine officials in the coming days.
  • Argentine sovereign bonds rose roughly 2–5% and the JP Morgan country-risk gauge eased into the 1,160–1,260 bps range as investors reacted to the coordinated signals.
  • Key terms, conditions, mechanics, and timing remain unresolved, with Argentine officials seeking progress before the Oct. 14 Milei–Trump meeting and the Oct. 26 legislative elections.