Overview
- Treasury Secretary Scott Bessent labeled the ESF-backed agreement with Argentina “mission-critical,” saying it proceeds during the U.S. government shutdown.
- The $20 billion framework functions as a currency swap with Argentina’s central bank, and U.S. officials are negotiating a separate roughly $20 billion private bank facility.
- President Trump has linked further U.S. support to President Javier Milei’s political standing and reform agenda ahead of Argentina’s midterm elections.
- U.S. officials have urged Argentina to limit Chinese access to critical minerals and discuss U.S. access to uranium while steering telecom and infrastructure deals toward American providers, according to reporting.
- Sen. Elizabeth Warren has challenged the move and introduced the No Argentina Bailout Act as the peso, after a brief bounce, has weakened to new lows.