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Milei Flies to New York Seeking U.S. Treasury Financing as Peso Strain Deepens

Washington is weighing a conditional ESF swap that would require guarantees tied to large near‑term debt obligations.

Overview

  • President Javier Milei and Economy Minister Luis Caputo will meet IMF chief Kristalina Georgieva on Monday before a Tuesday bilateral with U.S. President Donald Trump in New York.
  • Talks focus on a potential Treasury Exchange Stabilization Fund facility reported as a swap or loan, with media citing ranges from roughly US$3–10 billion and some speculation up to US$30 billion.
  • Reporting says U.S. officials want strong guarantees linked to 2026–2027 debt service, with a threshold cited above US$20 billion, and any funds would not arrive immediately.
  • The central bank sold about US$1.1 billion across three sessions, including US$678 million on Friday, to hold the exchange rate at the top of the official band as reserves come under pressure.
  • Caputo pledged to defend the band, saying the government will sell “until the last dollar,” while the opposition readies an Oct. 2 Senate session to try to overturn vetoes on university and pediatric funding.