Overview
- The Treasury finalized a $20 billion currency-swap framework with Argentina’s central bank and has been buying pesos in the open market.
- Scott Bessent said the support comes from the Exchange Stabilization Fund, which he noted has never recorded a loss.
- He pledged to marshal roughly another $20 billion from private-sector sources to bolster Argentina’s financing.
- The peso has fallen to record lows, dropping about 10% in the past month despite U.S. interventions.
- The package faces growing domestic opposition, with low public approval and pushback from farm and ranch groups, while key terms and timelines remain undisclosed.