Overview
- Economy Minister Luis Caputo arrived in Washington with Central Bank chief Santiago Bausili, Vice Minister José Luis Daza, and Finance Secretary Pablo Quirno to meet Treasury Secretary Scott Bessent.
- Bessent said the Treasury is prepared to do whatever is necessary and emphasized that the proposal under work is a swap line rather than money placed directly in Argentina.
- Negotiations include a proposed $20 billion swap plus options such as direct purchases of foreign currency and U.S.-dollar Argentine government debt via the Treasury’s Exchange Stabilization Fund.
- IMF Managing Director Kristalina Georgieva cited the potential use of U.S. holdings of IMF Special Drawing Rights as part of the technical toolkit under discussion.
- Officials are seeking to steady markets ahead of President Javier Milei’s Oct. 14 White House meeting and the Oct. 26 vote, with no final terms or agreement announced.