Overview

• The bill would bar the Treasury from using the Fondo de Estabilización Cambiaria for loans, debt purchases, currency swaps or any indirect support to Buenos Aires.
• Elizabeth Warren introduced the measure with backing from Bernie Sanders, Tim Kaine and Cory Booker.
• Warren publicly criticized a prospective rescue as protecting major private investors, naming BlackRock, Fidelity and Pimco.
• She asked the Managed Funds Association for information on lobbying and potential coordination involving Treasury’s Scott Bessent and Argentina’s economy chief Luis Caputo.
• The New York Times reported the assistance could benefit investors close to Bessent, and the proposal now awaits congressional action.