Overview

• Argentina’s Foreign Ministry confirmed the White House meeting for Oct. 14, scheduled the same week as IMF and World Bank gatherings in Washington and ahead of Argentina’s Oct. 26 legislative elections.
• Treasury Secretary Scott Bessent said the U.S. is negotiating a $20 billion central bank swap to provide dollar liquidity to Argentina, with reports also mentioning potential U.S. debt purchases and a direct credit line though details remain unspecified.
• After initial gains on last week’s announcement, Argentine dollar bonds and the peso retreated as investors awaited concrete terms, with bonds little changed to down about 2 cents and the peso weaker by roughly 1.5% on Tuesday.
• To raise foreign currency, Argentina temporarily suspended grain export taxes, prompting roughly $7 billion in sales that traders say are largely destined for China.
• U.S. support has faced pushback from some Republicans following those sales, including a text captured by AP and attributed to a contact identified as Brooke Rollins that labeled the prospective deal “unfortunate.”