Particle.news
Download on the App Store
8 ARTICLES
·
2h ago

Argentina Says $20 Billion U.S. Swap Nears Launch Before Elections

U.S. officials indicate the support could expand to $40 billion backed by IMF SDRs.

Luis Caputo en Washington
Image
Image
El ministro de Economía, Luis Caputo, junto al presidente del Banco Central (BCRA), Santiago Bausili, participaron del Atlantic Council

Overview

  • Economy Minister Luis Caputo and central bank chief Santiago Bausili said the swap is conceptually agreed and could take effect within two weeks, ahead of the October 26 legislative vote.
  • U.S. Treasury Secretary Scott Bessent signaled the broader assistance package may reach $40 billion with International Monetary Fund Special Drawing Rights as backing.
  • Bausili said the U.S. arrangement will not alter Argentina’s existing $18 billion currency swap with China.
  • Caputo said recent U.S. Treasury operations buying pesos and selling dollars in the local market have already lifted Argentine bonds and equities.
  • Speaking at the Atlantic Council during IMF and World Bank meetings in Washington, Caputo urged voters to deliver a simple congressional majority for reforms and said the government will not change its economic program regardless of the election outcome.