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57m ago

U.S. Ambassador Lamelas Promotes Unprecedented Western Investment Pledge for Argentina

Key U.S. financial support under discussion would likely be timed after Argentina’s October 26 legislative elections.

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El futuro embajador de Estados Unidos en la Argentina, Peter Lamelas, prometió una “inversión sin precedentes” de empresas norteamericanas en el país.
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Overview

  • Peter Lamelas said on social media that U.S. and Western companies are on the verge of committing an unprecedented amount of capital to Argentina after a meeting with the U.S. Argentina Business Council.
  • Scott Bessent said negotiations are underway for a $20 billion currency swap between the Federal Reserve and Argentina’s central bank.
  • Bessent also indicated the United States stands ready to buy Argentine dollar bonds and extend a standby credit via the Treasury’s Exchange Stabilization Fund.
  • Major financial outlets report that these operations are not expected to be executed before the October 26 vote.
  • Lamelas, a Cuban‑American businessman sworn in on September 24 after Senate confirmation, still must present his credentials in Buenos Aires and previously met President Javier Milei at Mar‑a‑Lago.