Overview

• U.S. Treasury Secretary Scott Bessent announced an expanded package for Argentina, redoubling support linked to a $20 billion swap and mobilizing similar funding from banks and sovereign funds to address near-term debt needs.
• Argentine stocks and bonds fell sharply after President Donald Trump suggested generosity could hinge on the election outcome, a linkage Economy Minister Luis Caputo called a misinterpretation he expects markets to correct.
• The government maintains the U.S. backstop is anchored to Milei’s economic program rather than a single result, with officials stressing that support will extend through the mandate if policies stay on track.
• Tensions with Congress escalated as Karina Milei, Luis Caputo and Health Minister Mario Lugones skipped scheduled appearances, prompting deputies to seek new dates, and opposition blocs advanced interpellation drafts for Chief of Cabinet Guillermo Francos likely to be taken up after Oct. 26.
• La Libertad Avanza retooled its Buenos Aires campaign under PRO leader Diego Santilli to target vote losses in the Conurbano, while in Peru President José Jerí swore in a transition cabinet as Finance Minister Denisse Miralles faces urgent security funding, anti-corruption actions and a Nov. 30 deadline for 2026 budget laws.