Overview
- Treasury and Argentina’s central bank have a $20 billion currency-swap framework in place, and U.S. officials say they have already bought pesos in the Blue Chip Swap and spot markets to steady the exchange rate.
- Treasury Secretary Scott Bessent told Sen. Elizabeth Warren the effort qualifies as mission-critical, allowing operations to proceed during the U.S. government shutdown.
- Talks with major U.S. banks continue on a roughly $20 billion private facility, which Reuters reports could be used to purchase Argentine sovereign debt.
- President Donald Trump has indicated future U.S. assistance hinges on Milei’s policies and electoral strength, a stance investors say heightens key-man risk and could magnify post-election market swings.
- Reporting attributed to the Wall Street Journal says U.S. officials have pressed Buenos Aires to curb ties with China, while domestic critics in the U.S.—including ranchers and Rep. Marjorie Taylor Greene—oppose elements such as a proposed Argentine beef buy and warn of taxpayer risk.