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23h ago

U.S. Advances Argentina Support Talks, Limits Aid to Swap Line as Markets Sway

Treasury plans in-person talks in Washington next to refine a roughly $20 billion stabilization plan.

U.S. Treasury Secretary Scott Bessent appears in the in the Oval Office of the White House on September 25, 2025 in Washington, DC.
U.S. Treasury Secretary Scott Bessent attends the 80th United Nations General Assembly, at the U.N. headquarters in New York City, U.S., September 23, 2025. REUTERS/Jeenah Moon/File Photo
U.S. President Donald Trump and Argentina's President Javier Milei react as they meet during the 80th United Nations General Assembly, in New York City, New York, U.S., September 23, 2025. REUTERS/Al Drago/File Photo
Argentine President Javier Milei arrives to an America First Policy Institute gala at Mar-a-Lago, in Palm Beach, Fla., Nov. 14, 2024 (AP photo by Alex Brandon).

Overview

  • Treasure Secretary Scott Bessent said the U.S. will offer a swap line to Argentina and emphasized it is not putting money directly into the country.
  • Bessent framed the effort as a strategic move to support President Javier Milei’s reforms and to avoid another failed state in the region.
  • Argentina’s bonds and the peso whipsawed after Bessent’s remarks, with an early rally fading once he clarified the U.S. would not provide cash.
  • Economy Minister Luis ‘Toto’ Caputo’s team is set to meet U.S. officials in Washington, and President Donald Trump is scheduled to meet Milei in two weeks.
  • Republican pushback has grown, and Argentine media reports—echoed by Popular Information—allege hedge fund manager Rob Citrone urged U.S. intervention and bought bonds before the announcement, claims not confirmed by U.S. officials.