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52m ago

U.S. Treasury Seals $20 Billion Swap With Argentina and Buys Pesos to Calm Markets

The move signals backing for the exchange‑rate band with IMF coordination underway.

Scott Bessent y Luis Caputo en Washington. El secretario del Tesoro es el responsable del plan para salvar a la gestión libertaria.
Javier Milei con Scott Bessent, el secretario del Tesoro que respaldará al gobierno argentino.
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Reunión en Nueva York: Javier Milei, Kristalina Georgieva del FMI y Luis Caputo.

Overview

  • Treasury Secretary Scott Bessent confirmed a $20 billion currency‑swap framework with the BCRA and disclosed direct purchases of pesos to ease illiquidity.
  • The U.S. executed the market intervention through Santander, Citi and J.P. Morgan, selling dollars for pesos to provide immediate liquidity.
  • Bessent described Argentina’s situation as one of grave illiquidity and said the U.S. stands ready to take exceptional measures to stabilize markets.
  • Washington reaffirmed that Argentina’s exchange‑rate band remains in place, with no regime change signaled, and highlighted close alignment with the IMF.
  • Markets showed short‑term relief, while Oxford Economics and Pantheon warned the rescue is a band‑aid that leaves structural issues unresolved as elections approach and a Trump–Milei meeting is set for October 14.