Overview
- IMF spokesperson Julie Kozack said accelerating dollar purchases is necessary and that it is too early to conclude the U.S. Treasury swap guarantees compliance with reserve goals.
- Luis Caputo defended the exchange-rate band system, pledged to buy reserves “intelligently,” and highlighted short‑term financing options to meet maturities without drawing on the Central Bank.
- Brokers and analysts widely expect Argentina to miss the December reserve target and seek another waiver, with private estimates putting the gap near US$9.35 billion for year‑end and about US$13.55 billion by mid‑2026.
- U.S. Treasury Secretary Scott Bessent confirmed only a small portion of the US$20 billion swap was used; local reporting points to roughly US$2.7 billion tapped to steady the currency and about US$2.0 billion later unwound.
- Upcoming obligations remain sizable, with roughly US$1.2 billion due before year‑end and about US$4.3 billion in January, prompting talk of bank repos, market issuance, rollovers, or activating additional swap tranches.